India-Based stock-brokering company Zerodha has reported that the company has made a profit of 2,094 Cr INR for the Fiscal Year 2022, which depicts that the online brokering firm has witnessed the growth of 8 percent in the profit.
Whereas on the other hand, the company has reported that the revenue generated by the it has also been increased by 86 percent on Monday, 9th January 2023.
According to the reports the company has recorded that the revenue generated in the current Fiscal Year accounts to Rs. 4,964 Cr than the revenue generated in the Fiscal Year 2021, which was amounting to 2,729 Cr INR.
How Does Zerodha Generates Revenue
The Company said that it generates revenue from its operation which includes sales of the premium technology based product like the Kite Connect API, brokerage fees and exchange transaction fees got from the clients due to several securities exchanges, which made the revenue to raise up to 4,128 Cr INR.
Besides the revenue generated from the sales and the fees, the company has also reported that it has generated a sum of 614 Cr INR from the interests, which has been increased by 50 Percent from the past Fiscal year.
Regarding the revenue recorded for the Fiscal year 2022 the Chief Executive officer of Zerodha said that while the company is in tracks to have generated the revenue and profit for this year, this year it won’t be possible to generate the same amount of profit from the next fiscal year to several more years from then.
The Chief Executive officer also added in his statement that the company is not estimating the fall in the revenue just because of the dropping in the new account openings or fall in the bull market momentum rather, he says that the firm has hit the plateau with respect to the target market. He also added that company’s customers have ample amount of savings to infuse in the markets. The company also have potential to make revenue for the brokerage firm.
About the Company Zerodha
The online stock brokering firm Zerodha was established in August 2010 by Nithin Kamath and Nikhil Kamath in Bengaluru, India.
The company made its mark into the Unicorn club with a self- assessed valuation of $1billion US dollars in June 2020.
Photo Credit-Business Today
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