Zerodha’s Bland FY26: Net Profit Up A Mere 1% At ₹4,238 Cr, Top Line At FY25 Level

Stock broking major Zerodha’s business growth continued to remain strained in the fiscal year FY26 after taking a hit in the previous fiscal year. Zerodha’s net profit for the fiscal grew by 1.2% YoY to ₹4,283 Cr from ₹4,231 Cr in the same fiscal last year.

Without disclosing exact numbers, Zerodha, in a blog post, showed that its operating revenue for FY26 was similar to the top line it recorded in FY25. Last year, the company’s operating revenue stood  ₹8,847 Cr, down 11.5% from ₹9,993 Cr in FY24. 

“Despite our revenue holding steady, it hasn’t really grown in real terms. This is because of two reasons: the rebate on transaction charges going away and the end of the bull market. The good news is that the loss of transaction fee revenues is now being offset by our MTF earnings,” Zerodha said in a blog post.

The company’s brokerage income dipped 10.7% YoY to ₹2,738 Cr, while net transaction charges plunged to zero from ₹400 Cr in the previous fiscal year. AMC charges increased slightly to ₹180 Cr, while interest income dipped about 4% YoY to ₹2,269 Cr.

(The story will be updated soon)

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