The retail rush to the stock markets in the pandemic is evident with India's largest brokerage Zerodha doubling it's profit to over ₹ 1,000 cr in the last one year.
The discount broker reported profit of ₹ 1,043 cr in FY'21 which is double of what it took in last year and 4 times the profit from 4 years ago in FY'18.
Zerodha's profit trajectory-:
The 10 year old discount brokerage firm that has been a disruptor in the space has over 5 million active users, Zerodha is India’s largest retail stock broking platform, managing around 15% of all trading volume in India
Founders Nithin and Nikhil Kamath who have been in the headlines after the board approved salary limit for founders to ₹ 1000 cr took to social media to clarify as they tweeted "Firstly the reported figure isn’t the actual salary being drawn. This is an enabling resolution that allows us as working promoters to draw salaries up to the number in case of liquidity requirements. Didn’t anticipate that this would get this much attention"