Zaggle hits record high on collaboration with Bennett, Coleman & Co., EaseMyTrip

Zaggle Prepaid Ocean Services zoomed 15.30% to Rs 292.70 after the company entered into agreements with Bennett, Coleman & Co. and Easy Trip Planners (EaseMyTrip).

According to the pact, Zaggle would be providing Bennett, Coleman & Co., the Zaggle Save proposition, a benefits & expense management platform.

The contract is to be executed from 19 February 2024 till the termination of agreement in accordance with terms mutually agreed, stated Zaggle.

Meanwhile, Zaggle has entered into an agreement with Easy Trip Planners for 3 years. Under the contract, Zaggle and EaseMyTrip will leverage its existing corporate base to sell integrated travel & expense management solutions to corporate clients.

EaseMyTrip is Indias one of largest online travel platform in terms of air ticket bookings, based on the Crisil Report-Assessment of the OTA Industry in India, February 2021. The company offers 'end-to-end' travel solutions including air tickets, hotels and holiday packages, rail & bus tickets as well as ancillary value-added services. Shares of Easy Trip Planners added 0.63% to Rs 49.88 on the BSE.

Zaggle Prepaid Ocean Services provides financial technology (fintech) products and services along with prepaid cards and has built a portfolio of software as a service (SaaS), including tax and payroll software, and a broad touchpoint reach.

The company's standalone net profit stood at Rs 15.22 crore during the quarter, steeply higher than Rs 1.49 crore posted in Q3 FY23. Revenue from operations jumped 35.12% year on year to Rs 199.51 crore in the quarter ended 31 December 2023.

The counter hit an all-time high at Rs 298.80 in todays intraday session.

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