Zaggle Prepaid Ocean Services Limited has announced a strategic partnership with Standard Chartered Bank, marking a significant step in expanding its prepaid payment instruments platform. The company, known for its innovative fintech solutions, has entered into a referral agreement with the multinational banking giant, aiming to broaden its corporate customer base.

Key Details of the Agreement

• Duration: The agreement spans a period of 5 years, indicating a long-term commitment from both parties.
• Nature of Partnership: Zaggle Prepaid Ocean Services will serve as a solution provider, offering its prepaid payment instruments platform to corporate customers referred by Standard Chartered Bank.
• Scope: The arrangement is domestic in nature, focusing on the Indian market.
• Classification: The deal is categorized as a referral agreement, suggesting a collaborative approach to customer acquisition.

Implications for Zaggle Prepaid Ocean Services

This partnership represents a significant opportunity for Zaggle Prepaid Ocean Services to expand its reach in the corporate sector. By leveraging Standard Chartered Bank's extensive network and client relationships, Zaggle Prepaid Ocean Services stands to gain access to a wider pool of potential corporate customers for its prepaid payment solutions.

Regulatory Compliance and Transparency

In compliance with regulatory requirements, Zaggle Prepaid Ocean Services has promptly disclosed the details of this agreement to the National Stock Exchange of India Limited and BSE Limited. The company has affirmed that:

• The transaction does not involve any interest from the promoter group.
• It does not fall under the category of related party transactions.

This level of transparency aligns with the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015.

Market Impact

While the financial terms of the agreement have not been disclosed, the five-year duration suggests confidence in the partnership's potential. For Zaggle Prepaid Ocean Services, this collaboration could lead to enhanced visibility in the corporate payments space and potentially drive growth in its prepaid solutions segment.

The agreement with a reputed institution like Standard Chartered Bank may also boost investor confidence in Zaggle Prepaid Ocean Services' business model and growth strategy. As the fintech sector continues to evolve rapidly, such strategic partnerships could play a crucial role in shaping the competitive landscape of the prepaid payments industry in India.

Investors and market watchers will likely keep a close eye on how this partnership unfolds and its impact on Zaggle Prepaid Ocean Services' market position and financial performance in the coming quarters.

Zaggle Prepaid Ocean Services , a leading player in the prepaid and corporate services sector, has announced a significant increase in its financial performance for the latest quarter.

Strong Profit Growth

The company reported a consolidated net profit of ₹261.00 million, marking a substantial 56% increase from ₹167.34 million in the same quarter of the previous year. This impressive growth in profitability underscores the company's ability to enhance its bottom line amid challenging market conditions.

Improved Operational Performance

Zaggle's operational efficiency also showed notable improvement:

• EBITDA Growth: The company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) rose to ₹305.00 million, up from ₹224.00 million in the corresponding quarter of the previous year. This represents a year-over-year increase of approximately 36%.

• EBITDA Margin Expansion: The EBITDA margin improved to 9.19%, compared to 8.88% in the same quarter last year, indicating enhanced operational efficiency and cost management.

Financial Highlights

The robust financial performance of Zaggle Prepaid Ocean Services reflects the company's strong market position and effective business strategies. The significant increase in net profit, coupled with improved EBITDA and margin expansion, indicates the company's ability to drive growth while maintaining operational efficiency.

As Zaggle continues to navigate the dynamic prepaid services landscape, these results position the company favorably for sustained growth and value creation for its stakeholders.