Zaggle Prepaid Ocean Services Reports Record Sales Amid Rising Promoter Confidence
Zaggle Prepaid Ocean Services has recently adjusted its evaluation, reflecting changes in its technical outlook. The company reported strong third-quarter FY24-25 results, with record net sales and a significant profit increase. Promoter confidence is rising, as stakeholders have increased their holdings, despite the stock's current bearish technical position.
Zaggle Prepaid Ocean Services, a small-cap player in the IT software industry, has recently undergone an adjustment in evaluation, reflecting a shift in its technical outlook. This revision comes amid a backdrop of notable financial metrics and market positioning. The company has reported a robust financial performance for the third quarter of FY24-25, with net sales reaching a record high of Rs 336.89 crore and a significant increase in profit after tax (PAT) to Rs 40.04 crore, marking a growth of 75.54%. Additionally, Zaggle has demonstrated a healthy long-term growth trajectory, with net sales expanding at an annual rate of 47.90% and operating profit increasing by 34.49%.
Promoter confidence appears to be on the rise, as stakeholders have increased their holdings by 4.12% in the last quarter, now owning 44.21% of the company. Despite the positive financial indicators, the stock is currently positioned in a mildly bearish technical range, with MACD and KST factors reflecting bearish trends.
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