Profit Surges Over 8X YoY To INR 16.7 Cr, Revenue Jumps 113%

While consolidated PAT surged on a YoY basis, it declined over 12% in Q1 FY25 on a QoQ basis

Revenue from operations more than doubled YoY to INR 252.2 Cr in Q1 FY25 but fell 7.7% on a QoQ basis

Reported EBITDA grew 181.8% to INR 22.43 Cr during the quarter under review from INR 7.96 Cr in Q1 FY24

Fintech SaaS startup Zaggle’s consolidated profit after tax (PAT) surged 716% to INR 16.73 Cr in the quarter ended June 30, 2024 (Q1 FY25) from INR 2.05 Cr in the year-ago period due to strong growth in its business.

However, PAT declined over 12% on a quarter-on-quarter (QoQ) basis from INR 19.16 Cr.

Revenue from operations zoomed 113% to INR 252.2 Cr in Q1 FY25 from INR 118.4 Cr in the corresponding quarter last year. However, it declined 7.7% on a QoQ basis from INR 273.37 Cr.

The enterprise tech startup attributed the year-on-year (YoY) increase in its top line to strong demand for its accounts payable platform Zoyer and credit card bundled solutions. 

Zaggle’s reported EBITDA grew 181.8% to INR 22.43 Cr during the quarter under review from INR 7.96 Cr in Q1 FY24.

(The story will be updated soon.)