Tiger Global-backed Upstox's operating revenue up 44% in FY23

Tiger Global-backed brokerage unicorn Upstox's operating revenue grew 44% in FY23 and breached the ₹1,000-crore mark, its Co-founder Ravi Kumar told Moneycontrol. Kumar added that Upstox achieved breakeven for FY23 and generated positive net cash of around ₹130 crore in the fourth quarter of FY23. Upstox concluded the fiscal year with cash reserves of close to ₹1,000 crore, he stated.