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Groww's FY24 consolidated revenues more than double to Rs 3,145 Cr

The brokerage reported a net loss of Rs 805 crore for FY24, primarily due to a one-time tax expense of Rs 1,340 crore related to the company’s recent move to domicile in India.

Groww's FY24 consolidated revenues more than double to Rs 3,145 Cr

Monday October 21, 2024 , 2 min Read

Groww has reported consolidated revenues of Rs 3,145 crore for the fiscal year ending March 31, 2024 (FY23-24), marking a 119% growth compared to Rs 1,435 crore in FY22-23.

The Bengaluru-based company's operational profitability also improved, with an operating profit of Rs 535 crore for FY24, up from Rs 458 crore the previous year.

However the brokerage reported a net loss of Rs 805 crore for FY24, primarily due to a one-time tax expense of Rs 1,340 crore related to the company’s recent move to domicile in India.

Groww Invest Tech Private Limited (GIT), the fintech's brokerage arm, saw its net operating income more than double to Rs 2,900 crore in FY24, while PAT grew 4X to Rs 297.8 crore.

"Groww became the first stock broker in the country to cross one crore active investors earlier this calendar year. As of October 2024, Groww's active stock investor base stood at 1.2 crores. It has emerged as the preferred Mutual Funds investing platform for retail investors, with nearly one in four new SIPs in the country happening via Groww," The company said in a statement.


As of August 2024, Groww leads the discount broking industry in India, holding the top spot by the number of active clients on the National Stock Exchange (NSE) and capturing a 25% market share. The company has significantly expanded its client base since FY2022, driven by favorable market trends and a growing wave of retail investors.

In comparison, Zerodha recently reported revenues of Rs 8,320 crore and a profit of Rs 4,700 crore, excluding an unrealised gain of Rs 1,000 crore.

Billionbrains Garage Ventures Private Limited (BGV), which operates the GIT platform, had a net worth of Rs 2,224 crore as of March 31, 2024, according to a research note by credit rating agency ICRA.


Edited by Jyoti Narayan