Zerodha co-founders reap INR 195.4 crore amid firm’s growth

BENGALURU – Zerodha, India’s leading retail brokerage firm, has witnessed a significant financial leap with its revenue soaring by 38% to Rs 6,875 crore and post-tax profits increasing by 39% to Rs 2,907 crore for FY 2023. The company’s robust performance is also reflected in the compensation of its co-founders, who collectively took home Rs 195.4 crore in total compensation for FY22-23.

The firm’s valuation, self-assessed at $3.6 billion, aligns with its market dominance, where it holds close to a one-fifth share according to National Stock Exchange (NSE) figures. This success is further supported by Zerodha’s substantial investment in its workforce, demonstrated by a 35.7% increase in employee benefits amounting to Rs 623 crore, including expenses related to Employee Stock Ownership Plans (ESOPs).

Despite these positive financial indicators, Zerodha faced operational challenges earlier this week. The brokerage firm experienced technical disruptions that impacted up to 20% of its clients. This was the second such occurrence within a span of two months. CEO Nithin Kamath addressed the issues with an apology, citing external system complications as the cause of the service interruptions.

Zerodha’s customer base comprises approximately six million active traders, representing about one-fifth of India’s trading population. The company continues to lead in the retail brokerage space through consistent customer growth and strategic focus on enhancing user experience and platform reliability.

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