Stockbroking startup Dhan reported a 600% increase in gross revenues, reaching Rs 380 crore in FY24.   The company also reported a net profit of Rs 155 crore, a significant turnaround from the net ...

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- Stockbroking startup Dhan reported a 600% increase in gross revenues, reaching Rs 380 crore in FY24. 
- The company also reported a net profit of Rs 155 crore, a significant turnaround from the net loss of Rs 22 crore in the previous fiscal. 
- Dhan is currently in talks to raise fresh capital of around $100 million. 
- The company's growth reflects the overall expansion of the equity trading market and the rise of new-age discount brokers. 
- Despite regulatory challenges, Dhan is diversifying its offerings to maintain its revenue streams.

Source: [Economic Times](https://economictimes.indiatimes.com/tech/startups/dhan-swings-to-profit-in-fy24-with-gross-revenues-of-rs-380-crore-up-600-from-last-year/articleshow/113874378.cms)

Dhan's Revenue Skyrockets 600%, Reports Maiden Profits of Rs 155 Crore in FY24

Journalist

Dhan's Revenue Skyrockets 600%, Reports Maiden Profits of Rs 155 Crore in FY24- Grapevine

Dukaan turned profitable

- Bengaluru-based discount broker Groww has doubled its active investor base over the past year, reaching nearly 11 million users in June, according to NSE data.
- Despite potential restrictions on futures and options trading, the number of new demat accounts continues to grow rapidly, with 160 million accounts in June and a net addition of 4.2 million.
- Top discount brokers like Groww, Angel One, and Zerodha have added significant numbers of new active investors, with Groww alone adding over 550,000 users in June.
- Traditional full-service brokers, mostly backed by banks, see minimal growth, but SBICAP Securities has grown its active investors by 64 percent, reaching 920,000 in June.
- Regulatory actions could impact discount brokers' revenue by 30-40 percent, with new SEBI directives and potential changes to F&O trading rules posing significant challenges.

Source: Moneycontrol

Groww’s Active Investor Base Doubles In One Year, Touches Almost 11 Mn

The Morning Vine 🍇

Welcome to Indian Startups's Private Community

https://www.cnbctv18.com/startup/bharatpe-turns-profitable-5-years-after-being-founded-ashneer-grover-rapped-by-delhi-high-court-18420851.htm?amp

Seems like $180Mn annualised revenue. Valued at 16.1x of revenue for the last round. Hmm.

Product Manager

Name the startups makes 1000 Cr profit per year?

Investor

Welcome to Office Gossip's Private Community

Absolutely sad to see the state of the startups, most of them.
I am a founder myself, and this is a post with equal disappointment with myself as much as it is for anyone else who relates.
Look at all these companies that have raised shit tons of capital, and now make a fraction of money that has been invested in them.
The raised money is spent on outsized, non business sense making acquisition costs, only to keep repeating it till the tap runs dry.
Then when all stakeholders get bored, the service quality plummets, the employees are fired and whole sectors are admonished as being bad.

But, my question is, which sector where large sums of money was invested in early days have come out with flying colours. Fucking nothing !
Edtech, proptech, agritech, ecommerce etc. etc. etc. kuch bhi nahi. 

Is there any sector where a startup which has raised in the 100s of millions in the first 5 years have actually built a sustainable business at any scale ?
Then scaling down, isse acha, scale slowly.
The worst part of this whole drama, is pushing the innovation wheel backward and destroying customer sentiment.

Isse acha, raise less money inititally, build slowly, and only scale when the market is ready. Artifical growth makes no sense, unless you have a treasure chest that shall never run out.
Even in that case, spend the money on assets and not on random acquisition costs, direct or indirect.

As founders, let's do better, nahi ?

Rant or is it ?

Founder

Welcome to Software Engineers's Private Community

Looking to compile a list of a great companies to work for in India for SDEs. The company does not need to have Indian origin.

Some of the criteria to pass to be a great company
1. Good WLB
2. Top tier compensation 
3. Office culture
4. Career growth and visibility 

Let me know what your “best” companies are.

Best companies to work for in India

Lead engineer

Their VC funding is drying up, and finding investors for next rounds is proving difficult because of the macroeconomic conditions (apart from glaringly obvious reasons like their hype has died down since it's not 2020 anymore).

Twitter has launched Ads Revenue Sharing where users with enough engagement get paid by Twitter. This is Dukaan leadership's last resort to sort of "bootstrap" themselves.

The income from Twitter is probably what helped Dukaan become profitable a few days ago.

What do you folks think?

Why Dukaan founders engage in Twitter fights

Software Engineer

1 year back all startups were losing money like crazy while all of a sudden everyone from Swiggy to Meesho to Unacademy are profitable or EBITDA positive.
Other companies which were profitable earlier have not shown a spike in profit.

Were these companies uselessly burning money earlier if they can just suddenly become profitable in 6-8 months

Profitable startups

Only startup that's making meaningful impact with less or no PR

600 Crore Profit not Revenue | What!

Welcome to Business Roles's Private Community

Share your progress - the journey.
- Where did you begin and where are you now?
- What motivated you to go the extra mile? 
- Where do you see yourself in the next few years?
- What did you do differently then the rest of the pack?

This can serve as a motivation to those of us who wants to improve and as a appreciation for some of us who made themselves a stellar career.

Eager to hear your stories. 🔥

What has been your career/salary progression so far?

Goldman Sachs has set a price target of INR 2,800 on MapmyIndia's stock, implying an upside of almost 40% from its close on Wednesday.

Here's why this matters:

1/ Riding the Digital Wave: MapmyIndia isn't just mapping streets; it's mapping India's digital transformation. From smart cities to autonomous vehicles, the company is at the intersection of critical growth sectors.

2/ The Numbers Tell a Story:
- 35% YoY revenue jump to INR 379.4 Cr
- 25% profit growth to INR 134.3 Cr
- Projected 38% revenue CAGR (FY24-FY27)
These aren't just figures; they're proof of a scalable, profitable model in a sector where growth often comes at the cost of profitability.

3/ Beyond Navigation: MapmyIndia's expansion into telematics and government digitization signals a pivot from being a map provider to becoming a critical digital infrastructure player.

4/ The 40% Upside Question: Goldman's target implies MapmyIndia is significantly undervalued. Is the market missing something, or is Goldman overly optimistic?

5/ The Bigger Picture: MapmyIndia's success could be a bellwether for India's broader tech ecosystem, showcasing the potential for homegrown companies to dominate in niche, high-growth sectors.

🍇 for Thought: Goldman Sachs' bullish outlook on MapmyIndia challenges the notion of Google Maps' invincibility in the geospatial landscape. Despite Google's global dominance, MapmyIndia's projected growth suggests there's significant value in localized, specialized mapping solutions, especially in sectors like automotive and government. This highlights the potential for homegrown tech companies to carve out lucrative niches in markets traditionally dominated by global giants. However, MapmyIndia's ability to sustain its growth and fend off competition from both local and international players will be crucial in determining whether it can truly rival Google's influence in India's digital mapping ecosystem. 🗺️🇮🇳

Image Credits: Inc42

Goldman Sachs Sees 40% Upside In MapmyIndia; Stock Hits 20% Upper Circuit

Swiggy was valued at $10B a couple of months back. Good luck employees waiting for ESOP buy-back in July 2023. Your shares are now worth half of what it used to be!

https://www.moneycontrol.com/news/business/invesco-cuts-swiggys-valuation-to-5-5-bn-2nd-markdown-in-4-months-10549051.html

Swiggy valuation down to $5.5B

Context - Morning Context article on Teachmint
https://themorningcontext.com/internet/teachmint-is-the-latest-edtech-on-the-verge-of-a-crisis

IITians or Ponzi Schemers?

Program Manager

- Swiggy's revenue grew 36 percent from Rs 8,265 crore in FY23 to Rs 11,247 crore in FY24.
- Despite the growth, Swiggy still lagged behind Zomato, which had a revenue of Rs 12,114 crore and a profit of Rs 351 crore.
- Swiggy's losses were reduced by 44 percent, from Rs 4,179 crore to Rs 2,350 crore, due to better expense control.
- The company spent Rs 13,947 crore in FY24, 8 percent less than the previous year, mainly by cutting promotion and marketing costs.
- Swiggy's Instamart, however, lagged behind Zomato's Blinkit in quick commerce, with revenues of Rs 1,100 crore versus Blinkit's Rs 2,301 crore. 

 Source: [Moneycontrol](https://www.moneycontrol.com/news/business/startup/swiggy-narrows-gap-with-zomato-on-revenue-food-delivery-business-grew-36-to-rs-11247-crore-in-fy24-12814599.html)

Swiggy Narrows Gap with Zomato on Revenue, Food Delivery Business Grows 36% to Rs 11,247 Crore in FY24

The Tiger Global-backed online broker has seen at least half-dozen senior-level departures over the past year, as it tweaked its business strategy and abandoned its US expansion plan, while also grappling with rapidly declining user numbers.

An upheaval at Upstox: Leadership exits, strategy U-turns, user churn

Upstox - CEO rubbishes claims from multiple employees

Unlike many times dick and harry startup founders who have gone crazy chasing Unicorn and decacorn tag with no numbers to back up the claim

Dhan's Revenue Skyrockets 600%, Reports Maiden Profits of Rs 155 Crore in FY24

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