Zaggle Prepaid Ocean Services Shares Jump 5% on Strong Q2FY25 Earnings

Shares of Zaggle Prepaid Ocean Services rose by 5% on November 14, 2024, hitting an intraday high of ₹431.2 on the BSE. This demand followed the company’s announcement of a substantial 145% increase in profit for Q2 FY25 earnings, released after market hours on Wednesday.

Stock Performance

By 11:14 AM, Zaggle Prepaid shares were trading at ₹426.5, up 3.85% from the previous close, while the BSE Sensex was down by 0.20% at 77,532.51. The company’s market capitalisation stood at ₹5,229.18 crore. Zaggle’s stock has shown significant movement over the past year, with a 52-week high of ₹493 and a low of ₹207.5.

Financial Highlights for Q2 FY25

• Profit Surge: Consolidated profit for Q2 rose to ₹18.56 crore, a 145% increase from ₹7.59 crore in the same quarter last year.
• Revenue Growth: Revenue from operations grew by 64.2%, reaching ₹303 crore compared to ₹184 crore a year earlier.
• Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA): EBITDA saw a 77.7% increase, climbing to ₹26.71 crore from ₹15.03 crore. EBITDA margin improved by 50 basis points, moving from 8.2% to 8.8%.

Fundraising and Future Growth

The company’s board recently approved a fundraising of up to ₹950 crore through a qualified institutional placement, pending shareholder approval. Founder and Executive Chairman Raj P. Narayanam expressed confidence in meeting the company’s growth targets, increasing revenue growth guidance for FY25 to 50-55% from an earlier 45-55% estimate, with a goal to double FY24 revenues in the next 2 years.

About Zaggle Prepaid Ocean Services

Zaggle Prepaid Ocean Services, part of the Indian fintech company Zaggle, specialises in advanced prepaid card solutions and financial management tools. These services help businesses manage employee benefits, expenses, and digital payments, enhancing efficiency and the overall employee experience.

Strong Share Performance

Over the past year, Zaggle Prepaid shares have gained 62.4%, significantly outpacing the BSE Sensex’s 18% rise during the same period.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.