Bengaluru: Zerodha One of the largest cities in the country is Online brokerages It has seen a 60% increase in its revenues and profits year-on-year for 2021-22, at Rs 1,800 crore and around Rs 4,300 crore, according to its founder and chief executive Nithin Kamath he said.
Kamath shared his thoughts with ET in an exclusive chat.
“The last two years have been a disappointment for trading companies. He said that trading volumes have reached a peak, but it is still cyclical.
According to Zerodha’s public filings, Zerodha reported total revenues of Rs 2,729 Crore in FY21, an increase of Rs 938.5crore in the previous year. However, its profit rose 164% to Rs 1,122 crore from Rs 424 Crore in FY20.
The Ministry of Corporate Affairs (MCA) has yet to file Zerodha’s financials from FY22.
According to the National Stock Exchange (NSE), Zerodha had 6.2 million clients as of March 31, 2022. According to the company, there are approximately 10-12 million orders per day.
Kamath stated that the company is ready for a slowdown due to the slowdown of the public markets. We might see growth slow down over the next 3 to 6 months. He said that he doesn’t expect any companies to go public in the next 3-6 months, except for the LIC IPO.
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Zerodha stated that it is currently working on an in-house order management (OMS) to eliminate its dependence on legacy systems. This system is expected to be implemented by the beginning of next year. Zerodha currently uses third-party order management software (OMS), such as Definitive. The move will allow Zerodha to be more in control of the customer experience.
Kamath stated, “we are currently working to replace that (OMS tie-up) so as to have full control over our product, as front-end innovation makes no sense if we don’t own the OMS.”
Zerodha was the victim of investors’ fury in February 2019 when its OMS crashed during trading hours. For order management, the company’s trading platform used Thomson Reuters Omnesys.