Zaggle Q1 Profit Dips 33% YoY to ₹17.5 Cr Despite 28% Revenue Jump
Fintech SaaS firm Zaggle reported a 33% year-over-year decline in net profit to ₹17.5 Cr for the June quarter (Q1 FY27), even as operating revenue increased by 28%.
Fintech SaaS company Zaggle reported its net profit for the first quarter of fiscal year 2027 (Q1 FY27), ending June, fell 33% to ₹17.5 crore (approximately $2.1 million) from ₹26.1 crore in the same period last year.
Despite the profit decrease, operating revenue saw a 28% increase, reaching ₹423.3 crore (approximately $50.7 million) compared to ₹332 crore in the corresponding quarter of the previous fiscal year. However, total expenses rose by 31% to ₹406.7 crore from ₹309.6 crore year-over-year.
The company's financial performance also saw a significant sequential drop. Profit declined 57% from ₹40.6 crore in the previous quarter (Q4 FY26), and revenue decreased by 32% from ₹617.9 crore. Zaggle recorded other income of ₹6.6 crore during the quarter.
Zaggle provides SaaS solutions primarily for corporate payments and employee benefits. The rise in expenses, even with revenue growth, could indicate increased operational costs or investments in scaling its services within the competitive fintech sector.