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Groww Reported Rs. 1278 Cr. Revenue and Turns Table and Reports Bumper Profit of Rs. 448.7 Crore

Groww, an online brokerage and investment platform clocked a Revenue of Rs. 1278 Cr. in FY23 an uptick of 264% as compared to Revenue of Rs. 350 Crore in FY22.

Groww has turned the table by reporting a bumper profit of Rs. 448.7 Crore in FY23 as compared to the previous year's Nett Loss of Rs.239 Crore.

Company was able to report a bumper profit on backing of almost 3.5X in Growth of revenue and total expenses increasing from Rs. 589 Crore to Rs. 829 Crore in FY23, an increase by 40.55%.

The Financial Performance Summary of Groww is as under :

Groww is also entering the margin trading funding (MTF) business. Margin trading allows customers to buy stock worth more than they can pay upfront. The broker loans the trader the money and charges an interest on top of it.

Founded in 2016 by former Flipkart executives Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, Groww recently added Microsoft CEO Satya Nadella as an investor and advisor. In 2021, months after turning unicorn, Groww's valuation tripled to $3 billion across two funding rounds from investors like ICONIQ Growth, Ribbit Capital, and YC Continuity, among others


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