Zaggle Prepaid Ocean surge over 4% as firm signs agreement with Hero MotoCorp

The agreement came into effect on July 4, 2024, and will be valid until the contract is mutually terminated, it said.

For the fourth quarter of the financial year 2024, the company’s net profit surged 153.4% year-on-year (YoY) to ₹19.16 crore while revenue from operations jumped 46.3% YoY to ₹273.3 crore. The reported earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 53.9% YoY to ₹27.2 crore.

The reported EBITDA margin in Q4FY24 expanded to 10% from 9.5% in the corresponding period last year. Meanwhile, the net profit margin expanded to 7% from 4% in the previous year.

In FY24, the company’s net profit was up 92.2% YoY to ₹44 crore while the revenue from operations grew by 40.1% YoY to ₹775.6 crore. The reported EBITDA rose 46.8% YoY to ₹70.59 crore.

The company’s reported EBITDA margin in FY24 was 9.1%, compared to 8.7% last year, while the net profit margin expanded to 5.7% from 4.1% last year.

Raj Narayanam, founder and executive chairman of Zaggle stated that the firm doubled its revenue over the last three years and is poised to double its revenue over the next two years through organic growth. “Our expectation of revenue growth for this fiscal year is to the tune of 45%-55%. We are focused on garnering more market share and making significant investments in technology, specifically building deeper AI capabilities to cater to the massive demand for Spend management solutions,” he said.

Shares of the company have risen by nearly 38% since the beginning of the year. The stock has gained over 89% in the last one year.