Zerodha traders sitting on Rs 1 lakh crore profit, we made Rs 4,700 crore in FY24: Nithin Kamath
Zerodha, India's second-largest stock broker, reported a 62% increase in profit to Rs 4,700 crore for FY24, with revenue rising 21% to Rs 8,320 crore. The firm also noted unrealized profits of over Rs 1 lakh crore among its traders.
Zerodha posts Rs 4,700 Cr profit in FY24; revenue crosses Rs 8,000 Cr
Despite the growth in FY24, Nithin Kamath expects a 10% dip in revenue in the current fiscal year, thanks to a new SEBI regulation.
Zerodha's profit grows 62 % to Rs 4,700 crore in FY 24, revenue up 21%
The profit figure is one of the highest for tech startups with high profitability mostly attributed to the growing interest in F&O trading
Nithin Kamath says Zerodha clocked Rs 4,700 crore in profits for FY24; expects new F&O rules to dent revenue by 30-50%
In a blog post, Nithin Kamath said that Sebi’s regulatory changes will adversely impact the company’s top line. Sebi’s ‘true to label’ circular will result in a 10% drop in revenues and its new rules around index derivatives will create a 30% to 50% drop in revenues for the company.
Zerodha hits ₹8,320 crore revenue in FY24, profit at ₹4,700 crore
Zerodha's revenue reached ₹8,320 crore and profit ₹4,700 crore, significantly up from FY23's ₹6,875 crore revenue and ₹2,907 crore profit, according to co-founder and CEO Nithin Kamath.
Zerodha's profit grows 62% to Rs 4,700 crore in FY24, revenue up 21% to Rs 8,320 crore
The profit figure is one of the highest for tech startups, with high profitability mostly attributed to the growing interest in F&O trading
Zerodha is expecting a major revenue dip soon, Nithin Kamath shares
Zerodha CEO Nithin Kamath stated the company is experiencing a revenue plateau and anticipates a significant decline due to new Sebi regulations.
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