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Stock broking startup Dhan has turned profitable in FY24, reporting maiden profits of Rs 177 crore. This marks a significant turnaround from the previous fiscal year, where the company posted a net loss of Rs 22 crore. Dhan's revenue surged by 689% to Rs 380 crore, reflecting robust growth in its operations. The Mumbai-based startup's financial performance highlights its successful strategies in the competitive stock broking market.
🚨🔻Sachin Bansal's Navi Finserv has been slowing the growth of its loan book after rapid expansion since 2021. There is more. Navi is also showing signs of stress, with loans overdue for over 90 days doubling from 3.3% in FY23 to 6.6% in FY24. https://t.co/xHUjwU4aAC
🚨 Navi has slowed down the rapid growth of its loan portfolio over the last 12 months. The unsecured loan portfolio stood at over $1.24 billion as of June 2024 🏦 Loan payments due for over 90 days have also doubled to 6.6% as of March 2024 📈 https://t.co/yRPeKKiRWB
Navi’s FY24 operating profit falls 50% as loan write-offs surpass Rs 400 Cr: Navi Finserv, led by Flipkart co-founder Sachin Bansal, faced challenges scaling its revenue and profitability in the fiscal year ending March 2024.… https://t.co/TuHh2zTQIG #startupnews #startups