Zaggle Prepaid gains on recording multi-fold jump in Q1 PAT

Zaggle Prepaid Ocean Services added 2.13% to Rs 342.20 after the company's consolidated net profit surged to Rs 167.34 crore in Q1 FY25 as comapred with Rs 20.55 crore in corresponding quarter last year.

Revenue from operations stood at Rs 252.20 crore, steeply higher than Rs 118.47 crore in same quarter last year. The YoY growth in the topline is driven by increase in credit card volume and consistent performance of Zoyer and client addition with large user base.

Profi before tax jumped to Rs 22.77 crore in Q1 FY25 from Rs 2.99 crore Q1 FY24.

Adjusted EBITDA stood at Rs 25.58 crore, regiatering the growth of 85.36% as compared with Rs 13.80 crore posted in corresponding quarter last year. EBITDA margin was 10.1% in Q1 FY25 as against 11.6% in Q1 FY24.

Raj P Narayanam, founder and executive chairman, Zaggle Prepaid Ocean Services, said, Harnessing the power of AI and Machine Learning we have created our own AI enabled bot, RazBot and advanced our Optical Character Recognition (OCR) capabilities. We continue to work on multiple use cases to provide industry leading solutions to our customers.

Recently, we have added customers with large user base including a leading two-wheeler OEM, a well-known insurance player, amongst others. Further, with our recent partnership with Skydo, we will integrate Skydos international inward remittance platform with our Zoyer solution to provide an integrated value proposition to corporate clients.

For this fiscal year, we project a revenue growth of 45% to 55% over the previous fiscal year. Additionally, we reaffirm our goal of doubling our revenue within the next two years. We expect our Adjusted EBITDA to hold steady around current levels.

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.

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