Zerodha is among the top brokers in the country and has the most reliable services. The company recently declared itself as one of the safest brokers in the world in its X post. Zerodha started in 2010 and has expanded itself with different subsidiaries like Coin and Kite. It now has a net worth equivalent to 40% of the customer’s funds. It contributes to the main reason behind the company being the safest brokers. The customers have gained a good amount of the gains while trading through Zerodha. How did it become possible? Let us find out more about Zerodha’s new milestone below.
Zerodha Earns Rs. 4,700 Crores Of Profit In FY 2023-24, Becomes The Safest Brokers In The World
Zerodha recently tweeted, “Our net worth is over 40 per cent of customers funds, which makes us among the safest brokers, not just in India but in the world”. Kamath mentions on X. The company records a profit of Rs. 4,700 Crores in FY 2023-24. Thus, it makes the company the safest broker in the world. Not only Zerodha, but customers associated with the company are also holding an amount worth Rs. 5.66 trillion in their demat accounts.
On the other hand, the customers have gains of more than Rs. 1 Trillion. According to him, the number of retail customers is increasing. While more people are also eagerly investing in IPOs. The company has a revenue of more than Rs. 8,320 Crores, double its profit. Zerodha puts its full efforts into understanding the users. However, Zerodha was charging account opening fees which now become free. The account opening fee also has a lot of impact on the active consumers of the company. The active users had a fall in the two years. The company realising the mistake removed the account opening fees for the new users.
The company provides special accounts like Coin and Kite for various kinds of services. Other factors that are involved are some technical glitches. Zerodha has a lot of technical issues. The glitches on the app make it difficult for the traders. As we know, the share market’s trading features require a quick working platform. There were five major technical issues on the platform from October 2023 to July 2024. The platform was having 44 minutes of impacted time on 6 November 2023. It leads to around 3.5% of the users being affected by this. While the other four technical glitches impacted around 2% of the customers. Zerodha is working positively on its performance improvement. Stay tuned for more information on our website.
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