Zaggle Prepaid Ocean Q1 Net Profit Jumps 56% to ₹26 Crore

Fintech firm Zaggle Prepaid Ocean on Thursday said its consolidated net profit increased 56% year-on-year to around ₹26 crore in the first quarter ended June 2025.

The company had registered a net profit of ₹16.73 crore in the same period a year ago, Zaggle Prepaid Ocean said in a regulatory filing.

The revenue from operations of Zaggle Prepaid Ocean increased by about 32% to ₹332 crore during the reported quarter from ₹252.2 crore in June 2024 quarter.

"This is by far our best first-quarter performance, despite being a slower quarter in the year. With strong fundamentals in terms of growth in the total number of customers and users, healthy growth was visible across our revenue streams," Zaggle Prepaid Ocean Services Founder and Executive Chairman Raj P Narayanam said.

The company recently added Hindustan Pencils, Apollo Health, Mo Engage, Novozymes, DTDC, CK Birla Healthcare and Truecaller as its clients.

Narayanam said that the company is unlocking new levels of scale and efficiency with AI at the core of its product strategy.

"Our AI initiatives in multiple areas, including sales automation, customer support and engagement, and bill processing, are at various stages of deployment," he said.

Founded in 2011, Zaggle has issued over 5 crore prepaid cards and claims to serve over 3,500 corporate enterprise clients, and support a user base of more than 33.9 lakh.

The company, in a separate filing, said that it has filed a writ petition before High Court of Judicature at Hyderabad challenging the award of a tender for the selection of a service provider for the implementation of T-Wallet by Telangana government's Electronic Service Delivery.