Dhan Sees 600% Revenue Surge in FY24: A New Player in the Stock Broking Arena

Stockbroking startup Dhan reported gross revenues of Rs 380 crore in FY24, a 600% increase from Rs 54.2 crore the previous year. The startup achieved a net profit of Rs 155 crore in FY24, recovering from a net loss of Rs 22 crore in FY23.

Dhan anticipates a 25-30% impact on gross revenues due to recent regulatory actions on the speculative futures and options market by Sebi. 

Approximately 90% of Dhan's users are traders who have switched from other broking platforms, focusing on seasoned traders and pursuing large revenue pools. Zerodha reported a 61% increase in net profit, reaching Rs 4,700 crore. Groww report a profit of Rs 297 crore