Groww clocks Rs 805 Crore Net Loss In FY24, Revenue Up 119 Pc

by Hemanta Pande

NEWS HIGHLIGHTS

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.

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.

The top five discount brokers accounted for 64.5 per cent of total NSE active clients in September compared to 61.9 per cent in the same month last year.

While online brokerage Zerodha reported a 1.1 per cent (on-month) increase in its client count to 8 million, with a 20bp fall in market share to 16.6 per cent, Groww reported a 3.1 per cent increase in its client count to 12.3 million, with a 15bp rise in market share to 25.6 per cent.

--IANS

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India Captain Harmanpreet Kaur Included In Women’s T20 WC Team Of The Tournament

by Hemanta Pande

New Delhi, Oct 21: India captain Harmanpreet Kaur has been included in 2024 Women’s T20 World Cup team of the tournament, which includes champions New Zealand and runners-up South Africa being represented by three players each, along with players from West Indies, Bangladesh, England and Australia.

Though India didn’t enter the semi-finals under her leadership, Harmanpreet ended the tournament with 150 runs in four matches and being dismissed just once in four innings. The right-handed batter also made unbeaten half-centuries against Sri Lanka and Australia at Dubai and Sharjah respectively.

The team includes New Zealand all-rounder Amelia Kerr, who picked up Player of the Match in the final as well as the Player of the Tournament trophy. Amelia, 24, took 15 wickets – the most by any player in an edition of Women’s T20 World Cup – and scored 135 runs, including top-scoring with 43 in the final to help New Zealand lift the trophy for the first time.

She is joined in the side by her team-mates – pacer Rosemary Mair, who took 10 wickets at an average of 11.70, including three in the final, and off-spinner Eden Carson, listed as 12th player in this team after picking nine wickets.

South Africa’s opening pair of captain Laura Wolvaardt and Tazmin Brits - the two highest run-scorers in the competition – have been selected too. Laura was remarkably consistent, with four scores of 40 or above including a best of 59 not out in the opener against West Indies and ending with a tally of 223 runs at 44.60 and strike-rate of 113.19 in six innings.

Tazmin, meanwhile, made 187 runs in total with a best of 57 not out. They are joined by England’s Danni Wyatt-Hodge, who scored 151 runs in four innings. She top-scored with 41 in England’s opening victory against Bangladesh before important knocks of 43 and 51 not out in wins over South Africa and Scotland respectively.

The side also has left-arm spinner Nonkululeko Mlaba, who took wickets in all six matches she played in, taking 4-29 against West Indies and 3-12 against Scotland. She also earned the key scalp of Tahlia McGrath in South Africa’s semi-final win over Australia and took two wickets in the final.

Bangladesh skipper Nigar Sultana has been slotted in as the wicketkeeper-batter, after leading her side to their first ICC Women’s T20 World Cup victory for 10 years against Scotland and impressed with the bat against both West Indies (39) and South Africa (32 not out).

Australia pacer Megan Schutt is also selected following her becoming the highest wicket-taker in ICC Women’s T20 World Cup history. Megan took her wickets tally to 48 with eight scalps in this tournament, including three for three against New Zealand, and had an economy rate of just 4.07 in the tournament.

West Indies pair of big-hitting all-rounder Deandra Dottin and leg-spinner Afy Fletcher complete the line-up. Deandra, who came out of international retirement in 2022 to feature in the competition, made 120 runs and took five wickets.

She also struck nine sixes, six more than the next highest by an individual player. On the other hand, Afy took 10 wickets at an average of 11.50, including three apiece against England and Scotland. She also took two scalps against both Bangladesh and New Zealand.

ICC Women’s T20 World Cup 2024 Team of the Tournament: Laura Wolvaardt (captain), Tazmin Brits, Danni Wyatt-Hodge, Amelia Kerr, Harmanpreet Kaur, Deandra Dottin, Nigar Sultana (wk), Afy Fletcher, Rosemary Mair, Megan Schutt, Nonkululeko Mlaba and Eden Carson (12th player)

--IANS

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Amit Shah To Inaugurate 14th National Civil Defence & Home Guards Conference Tomorrow

by Hemanta Pande

Gandhinagar, Oct 21: Union Home Minister Amit Shah will inaugurate the 14th All India Civil Defence and Home Guards Conference on October 22 at Mahatma Mandir, Gandhinagar.

The two-day conference, scheduled for October 22 and 23, will unite heads of Civil Defence and Home Guard forces nationwide.

This event, held in Gujarat's capital after a 19-year gap, will include key dignitaries, including Gujarat Chief Minister Bhupendra Patel and Minister of State for Home Affairs Harsh Sanghvi. Senior officials from various states and central agencies will also attend the conference.

With over 60 senior officers and over 1,200 force members in attendance, the conference will focus on discussions around the Draft Civil Defence Act-2024 and strategies to modernise the Home Guard forces.

Enhancing national security and law enforcement through technology and modern equipment will be key points of the discussions.

The Home Minister will go visit Anand to participate in two important events: the National Dairy Development Board (NDDB) Diamond Jubilee celebration and the birth anniversary program of Amul’s founder, Tribhuvandas Patel.

The NDDB celebration marks 60 years of the organisation’s contribution to India's dairy industry, significantly contributing to the state’s economic growth.

As the guest of honour, Amit Shah will speak at the NDDB event, reflecting on the institution’s role in transforming India into one of the largest milk producers in the world.

The event will be a tribute to Tribhuvandas Patel, whose vision laid the foundation for Amul, India’s most successful dairy cooperative.

Gujarat Chief Minister Bhupendra Patel, Minister of State for Home Harsh Sanghvi, and Minister Jagdish Vishwakarma will accompany Shah at the NDDB celebration.

Several state ministers, leaders, and other dignitaries will also attend the event.

--IANS

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Cyclone Dana: Odisha Govt Asks Tourists To Leave Puri Soon

by Hemanta Pande

Bhubaneswar, Oct 21: The Odisha government on Monday issued an advisory asking tourists to vacate the pilgrim town of Puri soon due to the impeding Cyclone Dana, which is like to hit the Odisha coast by October 25.

Revenue and Disaster Management Minister Suresh Pujari issued the advisory after a review meeting chaired by Chief Minister Mohan Charan Majhi this evening.

"The tourists who have come to Puri should leave the seaside pilgrim town soon as the district is likely to be affected by the severe cyclonic storm," Pujari said.

The Minister also said that the Puri district administration has also been asked to discourage people from visiting the pilgrim town from Tuesday till after the cyclone makes landfall as it could cause damage.

Meanwhile, the Puri district administration erected red flags along the sea beach on Monday and prohibited everyone from entering the sea.

India Meteorological Department (IMD) today predicted that a severe cyclonic storm with wind speed of 100-120 kmph slated to hit the Odisha coast between Puri to Bhadrak during the night of October 24 and the early morning of October 25.