Zoho and Zerodha, two of India's bootstrapped unicorns, have shown that you don't need to raise millions of dollars to become a highly profitable enterprise.
Zoho more than doubled its net profit to Rs 1,918 crore for the financial year ended March 2021, from Rs 800.8 crore in the previous year. Meanwhile, Zerodha's profit also jumped 2.6x to Rs 1,122 crore for FY21, from Rs 424 crore in FY20.
What's driving this growth is the increased digital adoption due to the Covid-19 pandemic. While Zerodha has benefited from the huge investor interest in the stock markets, Zoho has seen a surge in the software spends due to growing adoption for remote work.
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