Brokerage Platform Tech

Upstox posts Rs 1,208 Cr income and Rs 215 Cr profit in FY25

• ByStartupStory     |    January 23, 2026

Upstox Posts Rs 1,208 Cr Income and Rs 215 Cr Profit in FY25

Upstox, the Mumbai-based discount brokerage platform, reported robust FY25 financials with Rs 1,208 crore total income and Rs 215 crore profit, reflecting sustained retail investor frenzy and brokerage fee expansion.

Brokerage Revenue Drives Profit Surge

Total revenue crossed Rs 1,000 crore for the first time, fueled by 25% client growth to 15 million active users trading NSE derivatives and IPOs amid India’s bull market rally. Brokerage income jumped 40% YoY while interest from margin funding and treasury operations contributed 35% to topline, maintaining 18% net margins through zero-commission equity trades.

Scale Positions Upstox for Wealth Management Push

FY25 marked Upstox’s pivot beyond transactional brokerage into mutual funds, insurance, and NPS distribution targeting Tier-2 cities. With demat accounts doubling to 12 million during market peaks, Rs 215 crore profitability proves discount brokers evolve into full-stack wealth platforms – when 1 crore retail traders fuel Rs 1,200 crore income, Upstox cements dominance in India’s $5 trillion equity demat revolution.

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