Zaggle Signs 3-Year Reward Deal with Supreme; Q3 Profit Soars

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AuthorAarav Shah|Published at:
Zaggle Signs 3-Year Reward Deal with Supreme; Q3 Profit Soars
Overview

Fintech firm Zaggle Prepaid Ocean Services Ltd has signed a three-year deal with The Supreme Industries Ltd to deploy its Zaggle Propel reward platform for channel rewards. The partnership follows Zaggle's strong third quarter, which saw net profit surge 84.3% and revenue climb 56% year-on-year, driven by robust transaction volumes.

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New Channel Rewards Deal

Zaggle Prepaid Ocean Services Ltd has finalized a three-year agreement with The Supreme Industries Ltd. Under the deal, Zaggle will supply its Zaggle Propel reward platform to manage channel rewards and recognition programs at Supreme Industries. The company confirmed this is a domestic contract.

Strong Q3 Financials Underpin Deal

This new agreement follows a strong third-quarter financial performance for Zaggle. The company reported a net profit of ₹36.3 crore, up 84.3% from the previous year. Revenue from operations increased by 56% to ₹525.5 crore, driven mainly by increased transaction volumes in its prepaid card and employee benefits divisions.

Stock Performance and Disclosure

Zaggle Prepaid Ocean Services Ltd shares saw a positive response, closing 5.43% higher on the BSE. The company provided a disclosure stating that neither its promoter nor the promoter group holds any interest in Supreme Industries. This confirms the agreement is not a related party transaction and aims to maintain investor transparency during Zaggle's expansion.

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