Zerodha posts 60% jump in both revenue, profit for FY22

Zerodha, India’s largest brokerage, has reported a 60% surge in its annual revenue and profit for the financial year ended 2022 as the company benefitted from an increase in IPOs and market volatility, The Economic Times reported.

The stockbroking platform posted a profit of 1,800 crore rupees (US$235.7 million) for financial year 2022, while its revenue stood at around US$563.2 million.

Zerodha CEO Nithin Kamath said that an increase in the number of IPOs led to a higher number of daily average users. He added that the last two years have been “an outlier for trading companies” as the cyclical business witnessed a peak in trading volumes.

However, Kamath cautioned about slowing growth at the company over the next three to six months as fewer companies are looking to go public.

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Currency converted from Indian rupees to US dollar: US$1 = 76.32 rupees.