Zaggle Shares Jump 4% Intraday

SUMMARY

Zaggle shares have jumped more than 4% at INR 469.50 apiece, on the BSE intraday trading session today (February 4)

The company’s stock was last up slightly above 3% at INR 463.70 per share, as of 11:28 AM, compared to its previous close of INR 449.60 apiece

As of now, the company’s market capitalisation stands at INR 6,223.10 Cr ($714.4 Mn)

Listed fintech SaaS major Zaggle

shares have jumped more than 4% at INR 469.50 apiece, on the BSE intraday trading session today (February 4).

The company’s stock was last up slightly above 3% at INR 463.70 per share, as of 11:28 AM, on the BSE, compared to its previous close of INR 449.60 apiece, on Monday (February 3).

As of now, the company’s market capitalisation stands at INR 6,223.10 Cr ($714.4 Mn).

To note, the company’s stock last touched its all-time high at INR 522 per share on the BSE, about two months ago.

Founded in 2011 by Raj P Narayanam, Zaggle provides a spend management platform for businesses, along with an employee benefits platform. It has a diversified portfolio of SaaS products, including tax and payroll software.

The company claims to have issued 50 Mn prepaid cards in India via partner banks and serves over 3 Mn users.

It is also noted that Zaggle raised nearly INR 595 Cr via qualified institutional placement (QIP), in December last year.

Since the start of this year, the Hyderabad-based startup has signed partnerships with various companies to offer its service offerings.

For instance, Zaggle entered into agreements with Neuroglia Health Private Limited and HT Media Limited, where it would provide HT Media its Zaggle Save (Employee expense management & benefits) product while it would provide its employee reward program Zaggle Propel reward platform to Neuroglia Health.

Prior to that, the listed fintech SaaS company signed an agreement to offer its solutions to quick commerce major Zepto’s parent KiranaKart Technologies.

In terms of its financial performance, Zaggle posted a 167.67% jump in its consolidated profit after tax (PAT) to INR 20.29 Cr in the September quarter of the financial year 2024-25 from INR 7.58 Cr in the year-ago period. Meanwhile, its revenue from operations zoomed 64.21% to INR 302.55 Cr in Q2 FY25 from INR 184.24 Cr, a year ago.

To note, Zaggle is set to report its financial results for the third quarter of FY25 on February 7.

Updated at 12:12 PM