Zaggle Prepaid Ocean Services and Open Network for Digital Commerce (ONDC) have signed agreement for facilitating the issuance of Prepaid Payment Instruments to the Customers/Sponsor Organizations for rewarding their employees, partners and consumers.Powered by Capital Market - Live

Zaggle Prepaid Ocean Services announced that the 13th Annual General Meeting (AGM) of the company will be held on 25 September 2024.Powered by Capital Market - Live

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 Skydo's 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.Powered by Capital Market - Live

Net profit of Zaggle Prepaid Ocean Services rose 712.14% to Rs 16.73 crore in the quarter ended June 2024 as against Rs 2.06 crore during the previous quarter ended June 2023. Sales rose 112.87% to Rs 252.21 crore in the quarter ended June 2024 as against Rs 118.48 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales252.21118.48 113 OPM %8.896.71 - PBDT24.915.00 398 PBT22.772.99 662 NP16.732.06 712 Powered by Capital Market - Live

Zaggle Prepaid Ocean Services will hold a meeting of the Board of Directors of the Company on 30 July 2024.Powered by Capital Market - Live