Zerodha founders Kamath brothers’ compensation to reach Rs 200 crore in FY 2022-23

Zerodha founders Kamath brothers’ compensation to reach Rs 200 crore in FY 2022-23


New Delhi (Uttam Hindu News): Nitin and Nikhil Kamath, founders of online brokerage platform Zerodha, collectively earned Rs 195.4 crore as compensation in FY 2022-23. According to a report by Ntracker, Zerodha co-founders and directors took home Rs 72 crore each as their annual remuneration.

“In the financial year 2021-22, the board of Zerodha passed a resolution approving remuneration of up to Rs 100 crore to each of its three directors,” the report said.

During FY 2022-23, employee benefit costs for Zerodha increased by 35.7 per cent to Rs 623 crore compared to Rs 459 crore in FY 2021-22.

The company paid a total salary of Rs 380 crore to employees including directors.

The company is now valued at $3.6 billion.

Nikhil Kamath recently became India’s youngest billionaire at the age of 37.

According to Forbes’ latest list of India’s 100 richest people, brothers Nitin and Nikhil Kamath were ranked 40th among the country’s richest people with a net worth of $5.5 billion.

The Kamath brothers founded Zerodha in 2010, revolutionizing zero-cost equity investing.

Zerodha posted revenue of Rs 6,875 crore and profit of Rs 2,907 crore for FY 2022-23, marking a growth of 38.5 per cent and 39 per cent in revenue and profit, respectively, compared to the previous financial year.

In FY 2022, the company had recorded revenue of Rs 4,964 crore and profit of Rs 2,094 crore.



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