New Delhi: Groww, the country’s largest broker by active investors, registered a net profit of Rs 1,819 crore for the financial year 2024-25, marking a year-on-year jump of more than three times, according to people privy to the development.
The Bengaluru-based fintech, logged revenue of Rs 4,056 crore for the financial year, marking an increase of 31 percent. For the financial year ended March 31, 2024, the financial services company had logged a net profit of Rs 535 crore with revenue of Rs 3,145 crore.
Groww’s IPO ambitions and more
Last month, Groww filed draft papers with market regulator SEBI to float an initial public offer (IPO).
Groww’s IPO application is through the confidential pre-filing route, which enables a company to withhold public disclosure of details under its draft red herring prospectus (DRHP).
The wealth management platform has said that the pre-filing DRHP does not guarantee it will go ahead with the IPO.
Groww, which provides a wide range of financial products including mutual funds, competes with the likes of Zerodha and Upstox iin the domestic online discount broking market.
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