IT Software Products company Zaggle Prepaid Ocean Services announced Q1FY25 results: Revenue from Operations: Rs 2,522.1 million, a remarkable YoY increase of 112.9% compared to Q1FY24 (Rs 1,184.8 million). Adjusted EBITDA: Rs 255.8 million, reflecting a growth of 85.4% from Q1FY24 (Rs 138.0 million). Adjusted EBITDA Margin: 10.1%, down from 11.6% in Q1FY24. ESOP Cost: Rs 31.4 million, reduced from Rs 58.4 million in Q1FY24. Reported EBITDA: Rs 224.3 million, up 181.8% YoY from Q1FY24 (Rs 79.6 million). Reported EBITDA Margin: 8.9%, an increase from 6.7% in Q1FY24. Profit After Tax (PAT): Rs 167.2 million, a substantial rise of 713.6% compared to Q1FY24 (Rs 20.6 million). PAT Margin: 6.6%, up from 1.7% in Q1FY24. Cash PAT: Rs 220.0 million, showing a 122.2% increase from Q1FY24 (Rs 99.0 million). Commenting on the performance Raj P Narayanam, Founder and Executive Chairman, Zaggle Prepaid Ocean Services said, “We began the year on a strong footing, achieving a revenue of Rs 2,522.1 million, a significant increase of 112.9% on a YoY basis in Q1FY25. Our Adjusted EBITDA (before ESOP expense) for the said quarter was Rs 255.8 million, a growth of 85.3% on a YoY basis. The growth is largely led by strong demand for Zoyer and Credit card bundled solution. We are committed to innovate and adapt our product portfolio to meet the everevolving customer's needs. Harnessing the power of AI and Machine Learning we have created our own AI enabled bot, RazBot and advanced our Optical Character Recognition (OCR) capabilities. We continue to work on multiple use cases to provide industry leading solutions to our customers. Recently, we have added customers with large user base including a leading two-wheeler OEM, a well-known insurance player, amongst others. Further, with our recent partnership with Skydo, we will integrate Skydo’s international inward remittance platform with our Zoyer solution to provide an integrated value proposition to corporate clients. In line with our growth strategy, we are focused on inorganic growth opportunities in Spend Management space to enhance our leadership position. We are actively exploring complementary inorganic expansion opportunities and will provide updates as positive developments occur. These potential acquisitions would help Zaggle to scale faster. With that being stated, we expect to continue a similar performance for upcoming quarters driven by increased customer base, newer use cases, deeper penetration into the existing customers and cross selling of our solutions. For this fiscal year, we project a revenue growth of 45% to 55% over the previous fiscal year. Additionally, we reaffirm our goal of doubling our revenue within the next two years. We expect our Adjusted EBITDA to hold steady around current levels.” Result PDF