# Zaggle Q1 profit falls 33%, shares hit lower circuit

2026-08-14T13:50:38+00:00 | Business & Economy | Indian Opinion Desk

Corroboration: 2 independent outlets

Fintech SaaS company Zaggle Prepaid Ocean Services reported a 33% year-on-year drop in consolidated net profit to Rs 17.5 crore for the June quarter (Q1 FY27). Sequentially, profit plunged 57% from Rs 40.6 crore in Q4 FY26. Operating revenue rose 28% YoY to Rs 423.3 crore but fell 32% from the preceding quarter. The company attributed the margin pressure to costs from integrating DICE Enterprises, acquired for Rs 68 crore in May, and from Zagg.Money, a consumer credit card business. Equirus retained its 'LONG' rating but cut its target price to Rs 350 from Rs 455, citing slower core business growth. Shares hit a 20% lower circuit at Rs 160.45, a 52-week low, extending a 54% decline this year. Zaggle retained its 40% revenue-growth target for FY27, expecting DICE revenue to begin from Q2. The company also invested Rs 8 crore for a 20% stake in Unobanc to expand cross-border payments.

## Coverage

- ndtvprofit.com <https://www.ndtvprofit.com/business/earnings-zaggle-prepaid-ocean-services-q1-fy27-results-net-profit-revenue-ebitda-margin-june-first-quarter-11910131#publisher=newsstand>
- inc42.com <https://inc42.com/buzz/zaggle-q1-profit-dips-33-yoy-to-%E2%82%B917-5-cr-despite-28-revenue-jump/>
- inc42.com <https://inc42.com/buzz/zaggle-plunges-20-to-hit-lower-circuit-after-q1-profit-slump/>

Tags: Fintech SaaS, Q1 FY27, Zaggle Prepaid
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