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Zaggle Q1 Profit Dips 33% YoY To ₹17.5 Cr Despite 28% Revenue Jump

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Zaggle Q1 Profit Dips 33% YoY To ₹17.5 Cr Despite 28% Revenue Jump

Fintech SaaS company Zaggle’s net profit for the June quarter (Q1 FY27) dipped 33% to ₹17.5 Cr from ₹26.1 Cr in the year-ago period. Sequentially, the company’s profit plunged by 57% from ₹40.6 Cr. 

Operating revenue grew 28% to ₹423.3 Cr from ₹332 Cr in the corresponding quarter of the previous fiscal. However, it declined 32% on a sequential basis from ₹617.9 Cr in Q4 FY26. 

Zaggle’s adjusted EBITDA rose 4% YoY to ₹34.7 Cr from ₹33.4 Cr. However, its adjusted EBITDA margins narrowed to 8.2% from 10.1% in the year-ago period. 

The company registered other income of ₹6.6 Cr during the quarter under review, bringing its total income to ₹429.9 Cr. 

No exceptional items were reported during the quarter, while it earned an additional ₹2.3 Cr in profits from an associate and ₹27.8 Lakh in other comprehensive income, and spent ₹8 Cr on taxes. 

Total expenses surged 31% to ₹406.7 Cr in the quarter under review from ₹309.6 Cr in the year-ago period. However, the company’s expenditure narrowed 29% compared to ₹573.7 Cr in Q4 FY26. 

“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,” founder and executive chairman Raj P Narayanam said.

According to Zaggle, its EBITDA margin fell due to elevated expenses from its acquisition of enterprise spend management startup Dice in May. The company acquired the assets and IP of Pune-based enterprise spend management startup Dice Enterprises in May for a sum of ₹68 Cr.


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