Dark
Light

70% surge since IPO Record high for fintech with 10x Q3 profit.

1 min read
156 views

TLDR:

– Zaggle Prepaid Ocean Services, a SaaS fintech player, saw its shares rally 20% after reporting over a 10 times rise in profit after tax for Q3FY24.
– Revenue from operations grew 35.10% YoY to Rs 199.51 crore in Q3FY24, while adjusted EBITDA grew 56.4% YoY to Rs 22.86 crore.

Zaggle Prepaid Ocean Services, a SaaS fintech player that provides spend management products and solutions, saw its shares rally 20% after reporting a more than 10 times rise in profit after tax (PAT) for the quarter ended December 31, 2023. The company recorded a revenue growth of 35.10% YoY in Q3FY24, reaching Rs 199.51 crore. Additionally, adjusted EBITDA grew 56.4% YoY to Rs 22.86 crore during the quarter under review. Zaggle Prepaid Ocean Services shares settled at a record high of Rs 278.20 on February 7. The company’s performance was attributed to the strategic diversification of its product portfolio and the successful launch of credit card offerings.

Previous Story

Landscape finance: the key to unlock the EU Green Deal

Next Story

Prudential’s CFO succession: a financial transformation in the making

Latest from News