Zerodha’s net profit doubles to Rs 2,094 crore in FY22; here's what CEO Nithin Kamath says

Indian brokerage firm Zerodha’s net profit doubled to Rs 2,094 crore in FY22. This was 82 per cent up compared to Rs 1,112 crore in FY21. According to the company’s regulatory filings with the Ministry of Corporate Affairs, the Kamath brothers-founded company also saw its operating revenue surging 82 per cent to Rs 4,963 crore in FY22 compared to the year-ago figures. 
 
However, rise in revenues and profit apart, the company also saw its operating expenses jumping 71 per cent in FY22 to Rs 2,164 crore. The Bengaluru-based brokerage company’s employee benefit expenses (EBE) grew by 45 per cent. It reported the EBEs to be Rs 459 crore in FY22. The tech company’s information technology expenses also saw a surge of 78.2 per cent standing at Rs 303 crore in the last fiscal year. 
 
Nikhil and Nithin Kamath launched stock brokerage firm Zerodha in 2009. Till date, the company, which competes with the likes of Groww and Upstox, has not raised any funding. In an interview with Business Today earlier, Nikhil had said that they were tempted to raise funds in the initial years but there weren’t any investors at that time. “When we needed money, not many were offering it,” he said. He also revealed that they don’t have any IPO plans. 
 
Zerodha has a user base of 9 million of which 6.2 million are active, at present. Following the result announcement, Nithin tweeted and wrote:

The duo has also invested in several start-ups through their investment and incubation entities - Rainmatter Climate and Rainmatter fintech.

Besides being among the richest entrepreneurs in the country, the brothers are also among India’s top 10 philanthropists in personal capacity. Their donations jumped 308 per cent to reach Rs 100 crore in FY22, making them the ninth-largest individual givers in India, according to the EdelGive Hurun Philanthropy List 2022.

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