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

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.