Now that we've built size, we'll focus on profitable growth: Upstox CEO

Ravi Kumar, co founder and chief executive officer (CEO) of Upstox, in an e-mail interview with Sundar Sethuraman, said the broking firm will now focus on profitability, after building an adequate size. Not all new players, Kumar says, will be able to scale up profitably, and there will always be an opportunity for consolidation in the industry. Edited excerpts:

How was 2023 for the broking industry, as well as Upstox? What’s the outlook for 2024? 

We witnessed a fantastic year at Upstox. After a gap of four years, Upstox broke even. Despite the challenges posed by rising interest rates and