Zerodha hits $1 billion in revenue with a 55% profit margin in FY24

• Zerodha's revenue hit ₹8,320 crore and profit reached ₹4,700 crore in FY24, a significant increase from FY23.
• CEO Nithin Kamath highlighted unrealised gains of ~₹1,000 crore, boosting the company's net worth.
• Kamath warned of a potential 10% revenue dip due to SEBI's new regulations starting October 1, 2024.
• Additional risks include changes in index derivatives, STT increases, and new AMC thresholds impacting revenue.
• Despite these challenges, Kamath assured that Zerodha is well-prepared to handle potential downturns.

Source: Mint