Bengaluru, Oct 21
Online brokerage firm Groww on Monday reported a net loss of Rs 805 crore in FY24, after paying about Rs 1,340 crore as a one-time tax on its domicile movement to India earlier this year.
The company clocked Rs 3,145 crore in revenue for the fiscal ending March 31, 2024, a 119 per cent growth from FY23 at Rs 1,435 crore.
Groww said it maintained its operational profitability of Rs 535 crore for FY24 compared to Rs 458 crore for FY23.
The full-stack financial services platform continued its growth trajectory with 2.2 times increase in scale on a consolidated basis for last fiscal.
In comparison, its rivals Zerodha and Angel One reported revenues of Rs 8,370 crore and Rs 4,272 crore, respectively, in the last fiscal.
Groww became the first stock broker in the country to cross 1 crore active investors earlier this calendar year.
As of October, Groww's active stock investor base stood at 1.2 crore.
The online brokerage said 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.
Last year, Groww ventured into consumer lending, payments, and asset management through subsidiary businesses.