Groww reported 119% growth in its revenue, up from INR 1,435 Cr in the financial year 2022-23 (FY23) to INR 3,145 Cr in FY24.
The company maintained its operational profitability of INR 535 crore for FY24 compared with INR 458 in the previous fiscal year.
The fintech also paid around INR 1,340 Cr as one time tax on shifting its base back to India.
Bengaluru based fintech company Groww
has reported 119% growth in its revenue, up from INR 1,435 Cr in the financial year 2022-23 (FY23) to INR 3,145 Cr in FY24.
Notably, Groww maintained its operational profitability of INR 535 crore for FY24 compared with INR 458 in the previous fiscal year.
Additionally, the fintech also paid around INR 1,340 Cr as one time tax on shifting its base back to India earlier this year. It reported a net loss of INR 805 Cr, after taxes.
Founded in 2017 by Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, Groww is an online discount broking platform that allows users to invest in stocks, exchange-traded funds (ETFs) and IPOs.
Groww Invest Tech is a subsidiary of Billionbrains Garage Ventures, which also operates entities such as Neobillion Fintech, Groww Asset Management, Groww Pay Services, Groww Insurance Broking, Billionblock Finserv, among others in India.
According to the company, its active stock investor base stood at 1.2 Cr as of October 2024.
(The story will be updated shortly)
