Now Reading: Zaggle Q1 net profit plunges 57% sequentially; revenue down 32%
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Zaggle Q1 net profit plunges 57% sequentially; revenue down 32%
Zaggle Q1 net profit plunges 57% sequentially; revenue down 32%
Zaggle Prepaid’s net profit for the June quarter fell 57% from the previous quarter to Rs 17.5 crore, the fintech SaaS company reported. Compared to a year ago, profit dropped 33%. Operating…
The Story in Brief
Zaggle Prepaid’s net profit for the June quarter fell 57% from the previous quarter to Rs 17.5 crore, the fintech SaaS company reported. Compared to a year ago, profit dropped 33%. Operating revenue stood at Rs 423.3 crore, down 32% sequentially but up 28% year-on-year, according to inc42.com.
Total expenses rose 31% year-on-year to Rs 406.7 crore, though they fell 29% from the March quarter. Other income of Rs 6.6 crore took total income to Rs 429.9 crore. The company paid Rs 8 crore in taxes and had no exceptional items. NDTV Profit noted the sharp sequential decline after a strong Q4 when revenue had hit Rs 618 crore and profit Rs 40.6 crore.
The Indian Opinion
The lazy narrative here is either ‘growth story intact’ by focusing solely on the year-on-year revenue jump, or ‘trouble ahead’ by highlighting the sequential profit collapse. Both miss context: Q4 was a year-end spike, and Q1 always sees a seasonal drop. The real question is whether margins stabilise. Watch whether operating revenue holds above Rs 400 crore in Q2, that will separate seasonal noise from a structural slowdown.
Sources (2): ndtvprofit.com, inc42.com
This story was synthesised by AI from the 2 sources linked above.
