Zerodha founders, the Kamath brothers, collectively earned Rs 195.4 crore in FY23. Each took home Rs 72 crore as annual salaries. The valuation of the online stockbroker stood at Rs 30,000 crore, reflecting its market strength. According to Nithin Kamath, ‘The issues on November 6 and December 4 were triggered due to edge cases with our external dependencies. This is no excuse, and I understand that, as a platform, we are responsible for all the issues you face.
In FY23, Zerodha reported a 38% revenue increase to approximately Rs 6,875 crore, with profits after tax rising by 39% to around Rs 2,907 crore. With a customer base of 6.3 million active clients, the firm represented about 20% of India’s trading customers. Nithin Kamath added, “In the business updates post I shared in August this year, I mentioned how we hadn’t had any large tech issues for a couple of years. Unfortunately, we have had two episodes in quick succession in the last two months, affecting between 5 per cent and 20 per cent of our active customers.”
