Zaggle Prepaid Ocean Services Limited reported a strong financial performance for Q3 FY 2024-25, with a 32.9% year-on-year (YoY) increase in net profit and a 68.7% YoY rise in revenue. The company’s board approved the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024.
Financial Highlights
Zaggle’s standalone revenue from operations surged to ₹336.44 crore in Q3 FY25, up from ₹199.51 crore in the same period last year. The net profit after tax stood at ₹20.24 crore, compared to ₹15.22 crore in Q3 FY24.
On a consolidated basis, total revenue reached ₹340.41 crore, while net profit after tax was ₹19.74 crore, reflecting consistent growth and business expansion.
Board Reconstitution & Corporate Developments
The company announced the reconstitution of its Nomination and Remuneration Committee, adding Mr. Virat Sunil Diwanji as a member. The committee now consists of:
- Mr. Aravamudan Krishna Kumar (Chairman, Independent Director)
- Mr. Abhay Deshpande Raosaheb (Member, Independent Director)
- Mr. Arun Vijaykumar Gupta (Member, Independent Director)
- Mr. Virat Sunil Diwanji (Member, Non-Independent Director)
Additionally, Zaggle acquired a majority stake (53.32%) in Span Across IT Solutions Private Limited, making it a subsidiary. This move is expected to strengthen the company’s technological and product development capabilities.
As part of its Initial Public Offering (IPO) fund allocation, Zaggle has utilized ₹208.78 crore for customer acquisition and retention and ₹14.24 crore for technology and product development. A total of ₹117.31 crore remains unutilized.
Furthermore, the company raised ₹594.84 crore through Qualified Institutional Placement (QIP) in December 2024, bolstering its capital reserves and enabling strategic investments.
With strong revenue growth, strategic acquisitions, and a well-defined investment plan, Zaggle is well-positioned for continued expansion in the fintech and corporate expense management sector. The company’s management remains optimistic about sustained growth, driven by technological advancements and enhanced customer offerings.
