- Zaggle partners with Chennai Super Kings for corporate expense card solutions in IPL franchise
- The one-year deal aims to streamline spending and expense management for CSK employees
- Partnership marks Zaggle's entry into sports and entertainment segments
Zaggle Prepaid Ocean Services Limited has partnered with Chennai Super Kings Cricket Limited to provide corporate expense card solutions to the franchise's employees and associates. The agreement, disclosed in a regulatory filing dated February 26, 2026, marks Zaggle's formal entry into the sports and entertainment segment.
Structured as a domestic client contract, the one-year agreement will see Zaggle deploy its Corporate Expense Card platform to streamline spending, expense management, and payments for the IPL franchise's internal operations.
The partnership adds a marquee sports brand to Zaggle's growing corporate client roster. By extending its prepaid and expense management solutions to a high-profile cricket franchise, the company is widening its presence beyond traditional enterprise clients and deepening its footprint in new-age corporate segments.
Zaggle clarified that the transaction is fully compliant with regulatory norms. The company stated that no promoter or promoter group entity has any interest in Chennai Super Kings Cricket Limited. The deal does not qualify as a related-party transaction and has been executed at arm's length. Necessary disclosures were made in line with SEBI's Master Circular requirements.
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Strong Q3 Performance
The announcement comes after a robust third quarterly earnings. Zaggle reported an 84.3% year-on-year jump in net profit to Rs 36.3 crore in Q3, compared with Rs 19.7 crore in the same period last year. Revenue from operations rose 56% to Rs 525.5 crore, driven by higher transaction volumes and sustained traction across its prepaid card and employee benefits businesses.
Total income stood at Rs 534.2 crore, while total expenses increased to Rs 484.5 crore, reflecting higher activity levels. The cost of point redemptions and gift cards - its largest expense component - rose to Rs 282.6 crore from Rs 185.8 crore a year earlier.
Investor sentiment remained positive, with shares of Zaggle closing at Rs 232.95 on the BSE yesterday, up 7.05% on the day.
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