2023-12-11 03:21:00
Zerodha: India’s Top Stock Brokerage Firm Reports Record Revenue and Profits
Bengaluru-based stock market brokerage firm Zerodha has been making waves in the Indian financial sector. Founded in 2010 by brothers Nitin Kamath and Nikhil Kamath, the company has rapidly grown to become one of the most active stock market brokerage firms in the country, boasting a user base of 64.8 lakhs.
In the recently concluded financial year 2022-23, Zerodha reported a staggering revenue of Rs 6,875 crore, marking a significant increase from the previous year. Additionally, the company’s profits saw a 39 percent surge, reaching Rs.2,907 crore. As a result, the total valuation of Zerodha is now estimated at a whopping Rs 30,000 crore.
The Kamath brothers, who are the driving force behind Zerodha’s success, reaped the rewards of their hard work as they received Rs 192 crore as profit sharing, including their salaries. Each brother received a salary of Rs.72 crore, showcasing the immense growth and profitability of the brokerage firm. Moreover, Seema Patil, the wife of CEO Nitin Kamath and a full-time director at Zerodha, was paid Rs 36 crore, while the chief operating officer Venu Mathew received Rs 15 crore.
The remarkable financial performance of Zerodha highlights its strong position in the Indian stock market landscape and solidifies its reputation as a top brokerage firm. With its continued growth and success, Zerodha is poised to maintain its standing as a leader in the industry and a popular choice for investors in India.
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