Kamath brothers-led stock broking giant Zerodha has once again reported a significant surge in both revenue and profit for the fiscal year 2024 (FY24).

The company's revenue saw a 21% increase, rising from Rs 6,875 crore to Rs 8,320 crore. Likewise, Zerodha posted an impressive 62% jump in profits, growing from Rs 2,907 crore to Rs 4,700 crore.

While Zerodha has lost its position as India’s top stock broker to VC-funded Groww, which now boasts a user base of 1.2 crore active investors according to NSE data, it remains the largest discount broker by both revenue and profit.

"We continued our tremendous financial track record, and FY 23/24 was a fabulous year in terms of both revenues and profitability. The profits don’t consider the ~Rs 1,000 crore of unrealised gain, which will show in our financials," founder and CEO Nithin Kamath said in a blog post.

Credit - Indian Startup News