**Financial Highlights:** Zaggle reported robust financial performance with revenue from operations reaching ₹3,364.4 million in Q3FY25, a significant increase of 69% YoY.

For the nine months ended FY25, revenue totaled ₹8,912 million, up 77.4% YoY.

Adjusted EBITDA rose 37.6% YoY to ₹314.6 million, while PAT increased by 33% YoY to ₹202.4 million, reflecting strong margins in a rapidly growing market. **Strategic Initiatives and Growth Drivers:** The company successfully completed a qualified institutional placement (QIP) raising ₹5,950 million to fund inorganic growth initiatives.

Notable partnerships include a three-year collaboration with HDFC Bank for credit card solutions and a referral program with Mastercard, aimed at expanding market reach. **Business Developments:** Zaggle expanded its customer base to over 3,300 by securing contracts with major brands such as Blinkit and Mahindra First Choice Wheels, enhancing its product portfolio and customer engagement. **Market Position and Competitive Advantage:** As India's leading spend management company, Zaggle maintains a low customer churn rate and offers a diversified product stack, positioning it for sustained growth amid an expanding payments market. **Investor Implications:** The company’s impressive growth metrics, strategic partnerships, and market leadership indicate a positive outlook for shareholders, suggesting potential for continued expansion and enhanced profitability.