Zaggle Prepaid Ocean Services Limited announced its Q3 FY26 unaudited financial results, marking the highest-ever quarterly performance across all revenue streams. The company achieved a topline of ₹4,976.3 Million, a 47.9% YoY growth. Profit After Tax (PAT) stood at ₹359.7 Million, demonstrating a robust 77.7% YoY growth. Key milestones included crossing ₹2,000 Million in program fees and the quarterly EBITDA exceeding ₹500 Million for the first time.
Zaggle Reports Strongest Ever Quarterly Results in Q3 FY26
Zaggle Prepaid Ocean Services Limited, a SaaS fintech provider focused on spend management, released its unaudited financial results for the quarter and nine months ended December 31, 2025. The performance was highlighted as a consecutive quarter of record-high performance across all revenue segments.
Key Financial Performance Metrics (Q3 FY26 vs. Q3 FY25)
The financial tables indicate significant year-over-year expansion:
- Revenue from operations grew by 47.9% YoY to ₹4,976.3 Million in Q3 FY26, up from ₹3,364.4 Million in Q3 FY25.
- Adjusted EBITDA saw a substantial increase of 62.9% YoY, reaching ₹512.6 Million.
- Reported EBITDA surged by 72.8% YoY to ₹508.8 Million.
- Profit After Tax (PAT) recorded an impressive 77.7% YoY growth, totaling ₹359.7 Million, with the PAT Margin improving to 7.2% from 6.0%.
- Cash PAT reflected a 76.0% YoY jump to ₹461.2 Million.
Nine Months FY26 (9MFY26) Achievements
The performance over the first nine months of FY26 also demonstrated strong compounding growth:
- Revenue reached ₹12,601.0 Million, showing a 41.4% YoY increase.
- Adjusted EBITDA grew by 47.5% YoY to ₹1,277.2 Million.
- PAT for the 9M period was ₹950.9 Million, surpassing the full-year FY25 PAT level and marking a 71.3% YoY growth.
Executive Commentary and Strategic Updates
Raj P Narayanam, Founder and Executive Chairman, stated that the quarter marked their best quarterly and nine-month performance. He highlighted that Adjusted EBITDA of ₹513 Million crossed the ₹500 Million mark for the first time in the company’s history. Despite 9MFY26 revenues being slightly below the total annual FY25 performance, profitability surpassed FY25 levels due to margin expansion.
Strategically, Zaggle is advancing its technology vision through the rollout of Agentic AI workflows, enhancing automation across reconciliations and approvals. Global expansion remains a focus, with the Board approving the subsidiary Zaggle Payments IFSC Ltd in GIFT City, and the company forming an entity in the UAE (Abu Dhabi base) for the MENA region.
In M&A activity, the company completed the acquisition of Greenedge Limited to boost rewards and loyalty capabilities. Furthermore, the acquisition of Rio Money (rebranded as Zagg.Money) is finalizing. This latter acquisition introduces a fourth monetization pillar targeting a salaried base of over 3.7 million users, with a goal of generating ₹5,000 Million in revenue from this high-margin segment.
Company Snapshot
Zaggle operates as a leading player in spend management, serving customers across sectors like banking, technology, healthcare, and FMCG. As of December 31, 2025, the company had issued more than 50 million prepaid cards in partnership with banks and served over 3.7 million users.
Source: BSE
