Ashish Kacholia-backed Zaggle Prepaid Ocean shares nosedive 10%, hit lower circuit after Q3 results
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Shares of Zaggle Prepaid Ocean Services, backed by ace investor Ashish Kacholia, nosedived 10% to hit their lower circuit at Rs 424.30 on the BSE on Monday, despite the fintech and SaaS provider reporting a 29.6% year-on-year (YoY) rise in consolidated profit after tax (PAT) to Rs 19.7 crore for the October-December quarter, up from Rs 15.2 crore in the year-ago period. On a sequential basis, PAT slipped 2.47%. The company’s revenue from operations in Q3FY25 stood at Rs 336.8 crore, reflecting a 68.8% YoY increase from Rs 199.5 crore. Revenue also grew 11.3% quarter-on-quarter (QoQ). Total expenses increased to Rs 314.14 crore in the quarter ended December 2024, up 12% from Rs 280.50 crore in Q2 and 71.59% higher than Rs 183.07 crore in the same quarter last year. Key cost components contributing to the rise included point redemption expenses and incentives. Employee benefits expense declined 4.46% on a QoQ basis to Rs 17.10 crore but ros...