2 weeks ago
Zaggle Q1 Net Profit Dips, Revenue Up 27.5%
Zaggle is a company that makes software to help businesses manage prepaid cards and payments.
Every few months, companies share how much money they made.
In the first quarter of the year, Zaggle earned more money from its customers than it did last year.
But the profit it kept at the end was less than before.
That happened because the company spent a lot on buying another company called Dice and moving its workers.
Zaggle's leader said they are focusing on improving the business and using more AI.
The company also invested some money to help with payments between countries.
Zaggle now has over 4 million users.
The money from the new company they bought will start showing up in the next quarter.
The company hopes things will get better then.
Zaggle Prepaid Ocean Services reported a 32.9% year-on-year decline in consolidated net profit to ₹17.53 crore for Q1 ended June 30, 2026.
Revenue from operations rose 27.5% to ₹423.26 crore, compared with ₹331.96 crore in the year-ago quarter.
On a sequential basis, profit fell 56.8% from ₹40.60 crore and revenue dropped 31.5% from ₹617.91 crore in the preceding quarter.
Adjusted EBITDA margins contracted to 8.2% from 10.1%, attributed to one-time factors including Dice acquisition costs and relocation of over 100 professionals.
The company's user base grew 18.6% year-on-year to 4.02 million, and it invested ₹8 crore in Unobanc Pvt Ltd for cross-border payments and forex cards.
- Who
- Zaggle Prepaid Ocean Services, a SaaS fintech firm, and its Founder and Executive Chairman Raj P Narayanam.
- What
- Reported Q1 FY27 results showing net profit down 32.9% to ₹17.53 crore and revenue up 27.5% to ₹423.26 crore.
- Where
- Not explicitly stated in the articles.
- When
- First quarter ended June 30, 2026; results published on August 16, 2026.
- Why
- Profit declined mainly due to one-time expenses related to the Dice acquisition, while the company focuses on consolidation, AI scaling, and integrating acquisitions.
Key facts
- Company
- Zaggle Prepaid Ocean Services
- Quarter
- Q1 FY27 (ended June 30, 2026)
- Net profit
- ₹17.53 crore (down 32.9% YoY)
- Revenue from operations
- ₹423.26 crore (up 27.5% YoY)
- Adjusted EBITDA margin
- 8.2% (down from 10.1%)
- User base
- 4.02 million (up 18.6% YoY)
- Investment
- ₹8 crore in Unobanc Pvt Ltd
- Publication date
- August 16, 2026









