Ratan Tata-backed Upstox breaks even in fiscal year 2022-23, revenue jumps 40% to 1,000 crore | Mint
21 October 2024
Upstox, the Ratan Tata-backed discount broking firm informed on Sunday that it has achieved the break-even state during the fiscal year 2022-23. The top officials of the company said that their revenue jumped to ₹1,000 crore during the fiscal year. Upstox has generated a positive net cash flow of approximately ₹130 crore during 2022-23.
Ravi Kumar, the co-founder and chief executive of the Upstox told news agency PTI, that the company is aiming for a 10-times jump in its customer base to 10 crores in the next 5 to 6 years. The operational revenue of Upstox jumped by 40% to 1,000 crores, the top officer of the company added.
“We remain committed to driving growth sustainably and profitably,” Ravi Kumar stressed.
Upstox, the Ratan Tata-backed discount broking firm informed on Sunday that it has achieved the break-even state during the fiscal year 2022-23. The top officials of the company said that their revenue jumped to ₹1,000 crore during the fiscal year. Upstox has generated a positive net cash flow of approximately ₹130 crore during 2022-23. Ravi Kumar, the co-founder and chief executive of the Upstox told news agency PTI, that the company is aiming for a 10-times jump in its customer base to 10 crores in the next 5 to 6 years. The operational revenue of Upstox jumped by 40% to 1,000 crores, the top officer of the company added. “We remain committed to driving growth sustainably and profitably,” Ravi Kumar stressed.
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