Zerodha revenue zooms to Rs 6,875 cr, profit at Rs 2,907 cr

Zerodha has reported a 38% growth in both revenue and the net profit in FY23, the company said on Tuesday. The brokerage clocked Rs 6,875 crore in revenue for the year ended March 2023 while the net profit came in at Rs 2,907 crore.

In a blog post, co-founder Nithin Kamath said Zerodha remains the only brokerage to charge an account opening fee, citing costs incurred during account opening, such as KYC and verification.

“If there was no account opening fee to recover the cost, the business could implicitly be pressured to get a customer to transact to recover that cost.