Hot Pursuit     07-Feb-24
Zaggle Prepaid hits life-time high after Q3 PAT soars to Rs 15 cr
Zaggle Prepaid Ocean Services zoomed 16.02% to Rs 269 after the company's standalone net profit stood at Rs 15.22 crore during the quarter, steeply higher than Rs 1.49 crore posted in Q3 FY23.
Revenue from operations jumped 35.12% year on year to Rs 199.51 crore in the quarter ended 31 December 2023.

Profit before tax stood at Rs 20.90 crore in Q3 FY24, steeply higher than Rs 2.76 crore recorded in Q3 FY23.

The company's reported EBITDA stood at Rs 20.38 crore in Q3 FY24, steeply higher than Rs 7.41 crore reported in Q3 FY23. Reported EBITDA margin was 10.2% in Q3 FY24 as compared with 5% posted in Q3 FY23.

Finance costs was at Rs 2.14 crore in Q3 FY24, down 27.7% YoY, due to prepayment of debts.

Commenting on the performance Raj P Narayanam, founder and executive chairman, Zaggle Prepaid Ocean Services said, “I am thrilled to share that we reported our highest ever quarterly revenues with healthy growth across all profitability metrics. Our record-breaking performance is a result of our product portfolio's strategic diversification and the successful launch of credit card offerings.

Recently, with Torrent Gas joining as a client, we've entered the fleet loyalty card program, offering significant volume and margin potential. Employing an efficient end-to-end closed-loop system, we are tapping into India's vast fleet spends market estimated to be worth Rs 730 Bn.

In 9M FY24, our revenue growth was over 37.0% with an Adjusted EBITDA Margin (before ESOP expense) of 55.3%. This performance is in line with our full year guidance of 40% to 50% revenue growth at an Adjusted EBITDA Margin (before ESOP expense) between 11% and 13%.

We see encouraging momentum in our business and are dedicated to maintaining the upward trajectory. Our unwavering commitment to innovation and excellence shall foster growth, solidifying our position as a leader in the industry."

Zaggle Prepaid Ocean Services provides financial technology (fintech) products and services along with prepaid cards and has built a portfolio of software as a service (SaaS), including tax and payroll software, and a broad touchpoint reach.

The scrip hit an all-time high at Rs 274 in today’s intraday session.

Previous News
  Zaggle Prepaid Ocean Services to convene board meeting
 ( Corporate News - 01-Feb-24   17:39 )
  Zaggle wins contract from Expleo Solutions
 ( Corporate News - 21-Mar-24   18:19 )
  Zaggle Prepaid Ocean Services enters into agreement with Torrent Gas
 ( Corporate News - 17-Jan-24   18:24 )
  Zaggle Prepaid
 ( IPO Centre - New Issue Monitor 12-Sep-23   21:06 )
  Zaggle bags contract from Benetton India
 ( Corporate News - 24-Feb-24   10:48 )
  Zaggle Prepaid Ocean Services IPO subscribed 19%
 ( IPO Centre - IPO News 14-Sep-23   17:13 )
  Zaggle Prepaid inks customer service agreement with Benetton India
 ( Hot Pursuit - 24-Feb-24   11:12 )
  Zaggle Prepaid Ocean Services enter into agreement with Quess Corp
 ( Corporate News - 16-Feb-24   09:09 )
  Zaggle Prepaid Ocean Services consolidated net profit rises 153.44% in the March 2024 quarter
 ( Results - Announcements 23-May-24   17:15 )
  Zaggle Prepaid Ocean Services makes muted debut
 ( Hot Pursuit - 22-Sep-23   10:24 )
  Zaggle Prepaid Ocean Services to hold board meeting
 ( Corporate News - 10-May-24   16:12 )
Other Stories
  Auro Pharma's Telangana facility gets ‘OAI’ classification
  25-May-24   17:08
  Divis Lab Q4 PAT spurts 68% YoY; declares dividend of Rs 30/share
  25-May-24   16:56
  Cochin Shipyard Q4 PAT soars to Rs 259 cr
  25-May-24   16:14
  Nazara Tech PAT jumps 43% YoY in Q4 FY24
  25-May-24   14:41
  Torrent Pharma Q4 PAT climbs 56% YoY, board OKs to raise upto Rs 5,000 cr
  25-May-24   13:31
  United Spirits Q4 PAT soars 88% YoY to Rs 384 cr
  25-May-24   12:32
  Hindustan Copper Q4 PAT slips 6% YoY; board OKs raising Rs 500-cr via NCDs
  25-May-24   11:06
  NTPC PAT jumps 33% YoY to Rs 6,490 cr in Q4 FY24
  25-May-24   10:05
  Suzlon Energy slides as Q4 PAT declines to Rs 254 crore
  24-May-24   17:06
  Knowledge Marine ends higher after bagging LoA for $40 mn contract in Myanmar
  24-May-24   16:48
Back Top