Join our whatsapp channel for quick updates
Stealth • 17h
Groww’s stock broking unit post Rs 2,900 Cr revenue and Rs 298 Cr profit in FY24
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
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
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 distr
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%.
In May, Groww completed its domicile transition back to India from the US, according to the company’s chief executive officer Lalit Keshre.
The Bengaluru-based company competes with Zerodha and Angel One, among others. Zerodha reported Rs 8,370 crore in revenue and Rs 4,700 crore in profits during FY24, while Angel One posted a 42% year-on-year growth, reaching Rs 4,272 crore in revenue in the last fiscal. Moreover, Angel One’s profits exceeded Rs 1,125 crore, reflecting a 26% increase compared to FY23. In Q1 FY25, the Mumbai-based firm reported Rs 1,405 crore in revenue and Rs 293 crore in profits....
India startup's CEO says Co-founder has bed 3ft away, codes till 2am; crit ....
Swiggy Launches 10-Minute Food Delivery Service Bolt ....
Swiggy Instamart launches 24x7 free delivery in Delhi-NCR ....
SoftBank to invest $500 million in OpenAI: report ....
BharatPe Vs Ashneer Grover: A Settlement Or Compromise? ....
OpenAI plans price hike for ChatGPT Plus subscription by end of 2024: Repo ....
Amazon set to axe 14,000 manager roles by 2025 to cut red tape; move to he ....
Groww results: Net profits surge 308%, revenue at ₹2,900 crore in FY24, s ....
D2C brand Minimalist posts Rs 350 Cr revenue in FY24, profits double ....
CarDekho Eyes $500 Mn IPO Next Year ....
Download the medial app to read full posts, comements and news.