Zaggle Q3 FY26 Results: Revenue Up 48% YoY

Key takeaway from the December quarter

Zaggle Prepaid Ocean Services Ltd reported its Q3 FY26 results for the quarter ended December 31, 2025, highlighting a record quarter on several operational and profitability metrics. The company, classified under IT Software Products in the provided text, posted strong year-on-year growth in revenue, EBITDA and profit after tax (PAT). Management commentary framed the performance as part of a run of record quarters, with FY26 closing on a “strong footing” and the December quarter described as the best quarterly and nine-month performance. Alongside the results, the stock saw a sharp move lower on the quoted trading snapshots, while longer-period data showed wide swings between 52-week high and low levels. The numbers provide a clear view of how operating leverage and margins are tracking as the topline expands.

Management commentary: record quarter and nine-month performance

Raj P Narayanam, Founder and Executive Chairman, said the company delivered a third consecutive quarter of record performance and closed FY26 with its strongest-ever quarterly and annual results, as per the provided text. He also described Q3 FY26 as the company’s best quarterly and nine-month performance, backed by “strong performance across key metrics.” The commentary specifically highlighted quarterly topline of about INR 4,976 million and adjusted EBITDA of about INR 513 million, with adjusted EBITDA crossing INR 500 million for the first time. PAT was described at about INR 360 million, with year-on-year growth of about 77.7%. The management narrative also pointed to margin expansion at both EBITDA and PAT levels during the nine-month period, which helped profitability exceed the prior year’s full-year level according to the text.

Q3 FY26 headline numbers (as reported)

The results section in the provided material listed revenue from operations, EBITDA, margins, and PAT for Q3 FY26 versus Q3 FY25. Revenue from operations for Q3 FY26 was reported at INR 4,976.3 million compared with INR 3,364.4 million in Q3 FY25, a change of 48%. EBITDA rose to INR 512.6 million from INR 314.6 million, a 63% change, while EBITDA margin was listed at 10.3% for Q3 FY26. PAT increased to INR 359.7 million from INR 202.4 million, a 78% change, and PAT margin was reported at 7.2% for Q3 FY26. Separately, the text also referenced Q3 FY26 consolidated sales of INR 5,255.49 million and revenue of INR 5,342.14 million, alongside net income of INR 363.89 million.

Q3 FY25 comparison and the growth base

For Q3 FY25, the provided figures showed revenue from operations of INR 3,364.4 million compared to INR 1,995.1 million in Q3 FY24, a 68.6% change. EBITDA for Q3 FY25 was INR 314.6 million compared to INR 228.6 million in Q3 FY24, a 37.6% change, with EBITDA margin listed at 9.4%. PAT for Q3 FY25 was INR 202.4 million versus INR 152.2 million in Q3 FY24, up 32.9%, and PAT margin was listed at 6.0%. This context matters because the Q3 FY26 growth came off an already strong Q3 FY25 base, particularly on revenue.

Nine-month FY26 indicators mentioned in the text

The management note included a nine-month revenue figure for 9M FY26 of INR 12,601 million, described as slightly below the full-year performance in FY25. It also referenced nine-month adjusted EBITDA of about INR 1,280 million (stated as INR 128 crores) and nine-month PAT of about INR 950 million (stated as INR 95 crores). Another nine-month metric mentioned was sales of INR 12,897.3 million compared with INR 8,916.5 million a year ago. The text also stated that 9M FY26 PAT surpassed full-year FY25 PAT, attributing the improvement to margin expansion.

Additional quarterly metric cited while discussing FY26 close

Apart from the Q3 FY26 result block, the provided material included another quarterly snapshot stating revenues of INR 6,179 million (49.9% YoY growth), adjusted EBITDA of INR 605 million (62.4% YoY growth), and PAT of INR 406 million (30.4% YoY growth). The same passage linked the performance to sustained margin improvement and positioned it as part of the company’s strongest quarterly and annual results for FY26. Since the period for this set of numbers was not clearly specified in the text excerpt, it is best read as an additional quarterly datapoint cited in the FY26 closing commentary.

Stock movement and trading snapshots in the provided data

The provided market snapshots showed the stock lower on both exchanges on June 25, 2026. On BSE, the price was shown at INR 204.85, down INR 5.20 (2.48%), with the update time listed as Thu 25 Jun, 2026 | 15:29:58. On NSE, the price was shown at INR 205.60, down INR 4.39 (2.09%), with an update time of Thu 25 Jun, 2026 | 15:53:34. Separately, the text stated the share price of ZAGGLE as on 29 June 2026 was INR 198.60. The same set of inputs also referenced a record high of INR 470 on 10 Jun 2025.

52-week levels: multiple reported figures

The text included two slightly different 52-week ranges. One line showed a 52-week low of INR 185.55 and a 52-week high of INR 431.75. Another line stated a 52-week high of INR 431.95 and a 52-week low of INR 186.05. Because both ranges are explicitly present in the provided material, both are noted as reported values rather than selecting one. Regardless of the minor differences, the range indicates high volatility over the past year when compared with the stock’s June 2026 trading levels.

Summary table of the main reported metrics

Market impact: what changed for investors

From the data provided, the immediate market context around the result period included a decline of about 2% to 2.5% on June 25, 2026 on both BSE and NSE snapshots, and a later stated price of INR 198.60 as of June 29, 2026. Financially, the results show that while revenue from operations rose strongly year-on-year, profitability grew even faster in EBITDA and PAT terms, consistent with the management emphasis on margin improvement. The improvement in PAT margin to 7.2% from 6.0% in Q3 FY25 is a concrete indicator of better conversion of revenue into earnings. The presence of multiple revenue figures (revenue from operations, sales, and revenue) also suggests investors should track which topline definition is being used in each disclosure. The nine-month figures cited in the text are relevant because they link quarterly performance to full-year profitability comparisons.

Why the Q3 FY26 print matters

The most material datapoint in the disclosure is the combination of high topline growth and faster growth in EBITDA and PAT. Crossing INR 500 million in adjusted EBITDA for the quarter, as highlighted by management, is a scale marker that can affect how the market assesses operating leverage, even without making any forward projections. The nine-month commentary also matters because it frames profitability expansion as the main driver of outperformance versus FY25, despite revenue being described as slightly below FY25 full-year levels. Investors also tend to watch whether margin improvements are sustained when growth remains high, and the provided margins offer a clear quarter-on-quarter benchmark for future comparisons. Finally, the wide 52-week range and the reference to an earlier record high underline that the stock has already seen significant re-rating and drawdowns in the period referenced.

Conclusion

Zaggle’s Q3 FY26 results showed strong year-on-year growth, with revenue from operations at INR 4,976.3 million, EBITDA at INR 512.6 million, and PAT at INR 359.7 million, alongside reported margin improvement. Management positioned the quarter as a record performance and linked nine-month profitability to margin expansion. On the market side, the stock was quoted lower in the June 25, 2026 snapshots, and a separate June 29, 2026 price of INR 198.60 was also cited. The next meaningful updates for investors will come from the company’s subsequent quarterly disclosures and any additional clarification on the differing topline definitions used across result summaries.