Breaking Records: Zaggle Prepaid Posts Strong Q3 Results The company in a release said that it reported the highest quarterly revenue till date in the December quarter.
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Zaggle Prepaid Ocean Services shares registered a record high after it reported a strong set of quarterly numbers with margin entering double digits. The stock went up by INR 42.2, or 18.2 per cent, to an all-time high of INR 274, surpassing their earlier high of INR 266.4 registered in November 2023.
The company in a release said that it reported the highest quarterly revenue till date in the December quarter. "Revenue contribution from Zoyer has experienced significant growth. The finance cost has decreased due to prepayment of debts and increase in other income stems from higher interest income on increased cash/bank balances post IPO," it said.
Commenting on the performance of Zaggle in Q3, Raj P Narayanam, Founder and Executive Chairman, Zaggle Prepaid Ocean Services said, "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 73,000 crore," he said.
"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," Narayanam said.
