India's Zaggle Prepaid slips on Sept-qtr profit fall

Zaggle Prepaid Ocean Services

12/10/2023 06:14

** Shares of Zaggle Prepaid Ocean Services  ZAGG.NS  fall as
much as 5.98% to 201.35 rupees
    ** Slide after the fintech Software-as-a-Service (SaaS)
company posted 67.4% year-on-year decline in standalone net
profit in the September quarter to 20.55 mln rupees
    ** While revenue rose nearly 34% to 1.18 bln rupees, it was
offset by a 46% increase in total costs
    ** Earnings before interest, taxes, depreciation and
amortisation (EBITDA), as calculated by Reuters, fell 26.5% to
79.56 mln rupees, EBITDA margin contracted to 6.74% vs 12.21% a
year ago
    ** ZAGG shares up 32.43% since they debuted in the stock
exchanges on Sept. 22, 2023
    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))