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Shaswat Shah

Stealth • 1m

Groww’s stock broking unit post Rs 2,900 Cr revenue and Rs 298 Cr profit in FY24

Shaswat Shah

Stealth • 1m

Groww Invest-Tech Private Limited, the stockbroking unit of Groww, posted an impressive 2.4X growth in its operating revenue during the fiscal year ended March 2024. At the same time, the Tiger Global-backed firm’s profits surged more than 4X in the

Shaswat Shah

Stealth • 1m

According to its audited financials, accessed from credit rating agency ICRA, Groww Invest Tech’s revenue from operations increased to Rs 2,900 crore in FY24, up from Rs 1,295 crore in FY23. Retail broking accounted for 90% of GIT’s operating revenue

Anonymous

Stealth • 1m

GIT is owned by Groww and is a wholly owned subsidiary of Billionbrains Garage Ventures, which houses the group’s tech platform. Groww Invest provides equity broking services in both the cash and derivatives segments, in addition to mutual fund distribution.

1 replies

Replies (1)

Shaswat Shah

Stealth • 1m

The increase in broking volume contributed to Groww’s fourfold profit growth, rising to Rs 298 crore in FY24 from Rs 73 crore in FY23. Consequently, GIT’s return on average net worth improved to 40.3%.

1 replies

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