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Shaswat Shah

Stealth • 2m

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

Shaswat Shah

Stealth • 2m

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 • 2m

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 • 2m

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

Shaswat Shah

Stealth • 2m

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%.

Shaswat Shah

Stealth • 2m

In May, Groww completed its domicile transition back to India from the US, according to the company’s chief executive officer Lalit Keshre.

Shaswat Shah

Stealth • 2m

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....

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