Wealthtech major rel=”dofollow” href=”https://economictimes.indiatimes.com/billionbrains-garage-ventures-ltd/stocks/companyid-2282831.cms” target=”_blank”>Groww’s operating revenue for the September quarter declined 9.5% year-on-year (YoY) to Rs 1,018 crore, but its net profit went up 12% to Rs 432 crore. The latter was due to a major tightening of its business expenses and a Rs 159 crore provision made last year (which had dragged net profits then).
The company’s revenue per broking order increased to Rs 19.8 from Rs 18 a year back. This was driven by an increase in the average order size to Rs 59,079 compared to Rs 35,502 a year prior. Stockbrokers get a percentage of the order as…
