Representative image.
Credit: iStock Photo
Online stock broking platform Zerodha on Tuesday reported a 39 per cent jump in profit after tax to Rs 2,907 crore for the financial year ended March 31, 2023.
In comparison, the brokerage house had posted a Profit After Tax (PAT) of Rs 2,094 crore in the financial year 2022-23.
Also, the company's revenues surged by 38.5 per cent to Rs 6,875 crore in FY23 from Rs 4,964 crore a year ago.
'We continued to see phenomenal growth even in FY 22/23. That said, the business has plateaued in terms of revenue and profitability this financial year until now,' the company's Co-founder and CEO Nithin Kamath wrote in a blog post on Tuesday.
He attributed the primary reason for the increase in revenue and profitability over the last three years to huge interest in the markets, especially in the futures and options (F&O) segment.
While the trading activity in F&O has increased significantly, the total number of people trading F&O is still not that large. Overall, 45 lakh Indians traded once a year last year in F&O, Kamath said.
Bengaluru-based Zerodha manages about Rs 3 lakh crore worth of customer assets.
As of August, the firm is reported to have an active client base of 6.3 million.
Overall, the country has more than 12 crore demat accounts and NSE active client data indicates 3 crore investors who traded once a year on the exchange.
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