Zaggle Share Price Drops 3.4%; Announces Partnership with Redington

Zaggle Prepaid Ocean Services Limited has announced a strategic partnership agreement with Redington Limited (Redington) to co-create an employee benefits solution. The partnership aims to offer innovative benefits to Zaggle’s corporate clients, leveraging Google’s involvement via Redington. This collaboration signifies an important step in expanding Zaggle’s corporate offerings.

On February 18, 2025, Zaggle share price opened at ₹346.00, up from its previous close of ₹345.15. At 10:19 AM, the share price of Zaggle Prepaid Ocean Services was trading at ₹333.40, down by 3.40% on the NSE.

Details of the Agreement

The agreement, which is a domestic collaboration, is set for a duration of five years. As part of the deal, Google, through Redington, will partner with Zaggle to co-develop a customised employee benefits solution. This solution will be made available to Zaggle’s extensive corporate client base.

In the last week, February 15, 2025, Zaggle Prepaid Ocean Services announced that it has entered into agreements with both Forbes Marshal Pvt Ltd and Khrone Marshal Pvt Ltd. Under these agreements, Zaggle will provide the Zaggle Propel reward platform to both companies.

Q3 FY 2025 Financial Highlights

In Q3 FY25, the company reported an increase in its revenue from operations, reaching ₹3,364.4 million, which reflects a growth of 68.6% compared to Q3 FY24. On a quarter-on-quarter basis, the revenue rose by 11.2% from ₹3,025.6 million in Q2 FY25.

Profit After Tax (PAT) for Q3 FY25 stood at ₹202.4 million, marking a 32.9% year-on-year increase from ₹152.2 million in Q3 FY24. When compared to the previous quarter, PAT grew by 9.0% from ₹185.6 million in Q2 FY25.

For the nine months ending FY25, revenue from operations was ₹8,912.0 million, up by 77.4% from ₹5,022.3 million in the same period last year. PAT for the nine months was ₹555.2 million, which shows a growth of 123.3% compared to ₹248.6 million in 9M FY24.

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