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ADS.THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS. Home Info-tech Zaggle Q1 results: Net profit dips 33%,
revenue up 27.5% Revenue from operations for the quarter under review rose 27.5 per cent to ₹423.26 crore. By PTI
Updated - August 16, 2026 at 10:04 AM. | New Delhi
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Representative image | Photo Credit: wutwhanfoto SaaS fintech firm Zaggle Prepaid Ocean Services reported a 32.9 per
cent decline in consolidated net profit to ₹17.53 crore for the first quarter ended June 30, 2026.The company had
posted a net profit of ₹26.11 crore in the April-June period of the previous fiscal, according to a regulatory
filing.Revenue from operations for the quarter under review rose 27.5 per cent to ₹423.26 crore, compared to ₹331.96
crore in the corresponding quarter of the previous financial year.On a sequential basis, the profit saw a sharper
decline of 56.8 per cent from ₹40.60 crore reported in the preceding March quarter (Q4 FY26). Revenue fell by 31.5 per
cent from ₹617.91 crore in the previous quarter.Also readVoltas Q1 results: Net profit jumps 51% to ₹212.8
cr"Q1 FY27 marks an important inflection point for Zaggle as we move from a decade of profitable growth into a
phase of transformation through consolidation. Our focus is now firmly on optimising core operations, scaling AI across
our platforms, and integrating our recent acquisitions - all while calibrating our capitalisation and instilling greater
cash flow discipline to position the company for higher-margin growth in the years ahead," Zaggle Founder and
Executive Chairman Raj P Narayanam said.Adjusted EBITDA margins contracted to 8.2 per cent from 10.1 per cent in the
year-ago period.Zaggle attributed the margin compression to several one-time factors, including expenses related to the
Dice acquisition, such as transaction costs and relocation expenses for over 100 professionals.The company further noted
that revenue from Dice contracts was not captured in the current quarter and is expected to reflect from Q2 FY27
onwards.During the quarter, the company completed an investment of ₹8 crore in Unobanc Pvt Ltd to strengthen its
capabilities in cross-border payments and forex cards.Zaggle’s aggregate user base grew 18.6 per cent year-on-year to
4.02 million. Comments Published on August 16, 2026 READ MORETHIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS.
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