India's Zaggle Prepaid hits record high as Q3 profit surges tenfold

Zaggle Prepaid Ocean Services

07/02/2024 05:40

** Shares of Zaggle Prepaid Ocean Services  ZAGG.NS  rise as
much as 17.5% to a record high of 272 rupees
    ** The Indian fintech firm said on Tuesday profit surged
over tenfold to 152.23 mln rupees ($1.8 mln)
    ** Co's quarterly profit lifted by upbeat demand and fall in
costs of point redemption and gift cards
    ** More than 7.3 mln shares change hands, 8x its 30-day avg
    ** Stock on track for best trading session since debut in
Sept 2023, if gains hold
    ** Stock has gained ~20% for the week 

   ($1 = 82.9750 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))