The shares of the telecommunications services provider gained up to 3 percent after the company entered into an agreement worth Rs 10 crore with Quess Corp Limited.
With a market capitalization of Rs 3,109.80 crore, the shares of Zaggle Prepaid Ocean Services Ltd. were trading at Rs 254.70 per share, increasing around 0.30 percent as compared to the previous closing price of Rs 254 apiece.
According to the company filing, Zaggle Prepaid Ocean Services Ltd. entered into an agreement for employee benefits worth Rs 10 crore with Quess Corp. Limited.
Revenue for Zaggle Prepaid Ocean Services Ltd. climbed from Rs 148 crore in Q3 FY23 to Rs 200 crore in Q3 FY24, a 35 percent rise. Net profit rose from Rs 1 crore to Rs 15 crore, a 1400 percent rise, in the same time frame.
Ace investor Ashish Kacholia holds 27,03,356 shares, i.e. equivalent to 2.21 percent of the company as of December 2024.
Since its founding, the company has served over 2411 clients, over 2.2 million users, and 50 million prepaid cards. The clientele of the organization is significant and includes Tata Capital, Tata Steel, Yes Bank, NSDL, and numerous more.
In the most recent fiscal year, Zaggle Prepaid Ocean Services Ltd. disclosed return ratios of 33.5 percent for return on capital employed (ROCE) and 101 percent for return on equity (ROE).
By offering a solution for both workforce management (SaaS) and expenditure and management (payment instruments), Zaggle has carved out a market niche in India. Diversification complicates internal operations, policies, processes, and rules, which makes it challenging for new competitors.
Zaggle Prepaid provides a range of fintech services and products. They have a wide touchpoint network and SaaS products like payroll and tax software in their portfolio. The company provides services to a broad spectrum of corporate clients in sectors like banking, finance, technology, healthcare, and many more.
Written by:- Abhishek Singh
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