Zaggle`s Q3 Profit jumps 30% YoY to Rs. 20 cr ; operating revenue surges 69% YoY
Zaggle Prepaid Ocean Services Limited, a SaaS fintech player which provides spend management products and solutions, has announced its unaudited Financial Results for the quarter & nine months endedDecember 31, 2024.
Key Highlights
Q3&9MFY25:
* TheYoYgrowthinthetoplineisattributedto:
* Anotable54%riseinprogramfeesresultingfromanexpandedportfolioof prepaid and credit cards along with rise in clients spending
* Strong86%growthinthepropelrevenueplatform,fueledbyincreased redemptions on account of festive season
* Theriseinemployeecostsisprimarilydueto anexpandedworkforceaimedat supporting business growth
* Theincreasein incentives,cash-backexpenses,andoperationalexpendituresaligns with the overall expansion of the business
* ThetotalESOPexpensesinFY25areexpectedtobeapprox.INR95Mnto100Mn
Commenting on the performance Raj P Narayanam, Founder and Executive Chairman, Zaggle Prepaid Ocean Services Limited said,
“This has been a milestone quarter for us with our highest ever quarterly & nine monthly performance, in terms of Revenue, Adjusted EBITDA and PAT.
During Q3FY25, the company delivered a topline of INR 3,364 Mn, growing by 69% YoY basis, adjusted EBITDA of INR 315 Mn, increasing by 38% compared to Q3FY24. The Adjusted EBITDA margins stood at 9.4%. The PAT increasedby 33% YoY to INR 202 Mn.
We successfully completed of our QIP of Rs. 5,950 Mn in line with our growth strategy of inorganic expansion.
With respect to strategic collaborations, we signed a 3-year partnership with the largest private bank in India, HDFC Bank, to provide the credit card solution. Additionally, we stitched a long-term referral partnership program with Mastercard, which will extend our reach in the market.
Banking on our comprehensive product portfolio, we expanded our customer base to 3,300+ and signed contracts with several major brands including Blinkit, CanFin homes, BigBasket, Mumbai Metro One, Mahindra First Choice Wheels, and Hitachi India.
For FY25, we are confident of achieving a 58-63% growth in our top line. We are also evaluating inorganic growth opportunities to expedite this growth and the discussions are at advanced stages.”
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