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Billionbrains Garage Ventures , the parent of Indian online stockbroker Groww, reported a 12% rise in second-quarter profit on Friday, boosted by a jump in active users.

Groww, which was founded almost a decade ago and made its stock market debut earlier this month, posted a consolidated net profit of 4.71 billion rupees ($53.14 million), up from 4.20 billion rupees last year.

Shares climbed as much as 7.7% in early trade and were up 5.1% after the results on Friday.

The company said its active users grew 20% to 14.8 million in the reported quarter.

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Groww, however, reported a 9.5% drop in revenue from operations to 10.19 billion rupees, after curbs on equity-derivatives trading last year led to lower volumes ac

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