Zaggle Reports Record Q3 & 9M FY26; Profit Growth Significantly Outpaces Revenue
Zaggle Prepaid Ocean Services Limited (BSE: ZAGGLE | NSE: 543985), India’s leading Global Spend Management platform, announced its unaudited financial results for the quarter and nine months ended December 31, 2025, marking a decisive profitability breakout.
In Q3FY26, Zaggle delivered a topline of INR 497.6 crore, 47.9% YoY growth, with adjusted EBITDA of INR 51.3 crore, crossing the INR 50 crore mark for the first time in its history. This took the PAT to INR 36 crore, reflecting YoY growth of 77.7%.
For the first time in its history, Zaggle crossed Rs.500 Mn in quarterly EBITDA, signaling scale maturity and margin strength. Profit growth accelerated significantly ahead of topline growth, reflecting structural operating leverage embedded in the platform model.
In 9M FY26, revenue has nearly matched full-year FY25 levels, while profitability has already surpassed last year’s performance, with PAT exceeding full-year FY25 despite marginally lower revenues. This underscores meaningful margin expansion, improving operating leverage, and the compounding strength of the business model, marking a clear transition from pure growth-led expansion to growth with accelerating profitability.
Zaggle is delivering structural P&L expansion, with operating leverage driving disproportionate EBITDA and PAT growth. Margins are expanding, Cash PAT remains strong, and disciplined technology investments are reinforcing long-term margin resilience.
Zaggle is accelerating high-margin monetization engines across platforms and geographies. Zagg.Money targets 3.7+ million salaried users with a Rs.5,000 million revenue ambition, while the Greenedge acquisition deepens rewards and loyalty monetization. The GIFT City subsidiary and UAE expansion strengthen global and cross-border scale, and Agentic AI deployment is enhancing automation, efficiency, and operating leverage. Together, these drivers position Zaggle for sustained earnings compounding and progressive margin expansion.
Dr. Raj P Narayanam, Founder & Executive Chairman, said:
“This has been our strongest quarterly and nine-month performance, with consistent execution across financial and operating metrics. We have moved from AI-led vision to execution, with Agentic AI workflows now enhancing automation across reconciliations, compliance, and spend approvals. The Board’s approval of our wholly owned subsidiary in GIFT City, ‘Zaggle Payments IFSC Ltd’, strengthens our global payments footprint, while our proposed UAE entity in Abu Dhabi will anchor our MENA expansion. We also completed the acquisition of Greenedge, deepening our rewards and loyalty capabilities, and are finalizing the acquisition of Rio Money, now rebranded as Zagg.Money, our fourth monetization pillar targeting over 3.7 million salaried users with a Rs.500 crore high-margin revenue ambition.”
