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.