Home / Business and Economy / Zaggle Profit Tumbles 30% Amidst Revenue Surge
Zaggle Profit Tumbles 30% Amidst Revenue Surge
13 Nov
Summary
- Fintech SaaS company Zaggle's net profit fell 30% to ₹24.5 Cr in Q2 FY27.
- Operating revenue increased by 34.2% year-over-year to ₹580 Cr.
- The company's SaaS business achieved its highest-ever quarterly performance.
Zaggle, a fintech SaaS company, experienced a notable downturn in profitability for the September quarter of fiscal year 2027. Net profit declined by 30%, settling at ₹24.5 Cr compared to ₹35 Cr during the same period last year. Sequentially, however, profit saw a 40% increase, rising from ₹17.5 Cr.
Despite the profit dip, Zaggle's operating revenue demonstrated robust growth. It climbed 34.2% year-over-year and 37% quarter-over-quarter to reach ₹580 Cr. The company highlighted that its SaaS business recorded its best-ever quarterly performance, largely attributed to revenue recognition from novated contracts after the Dice acquisition.
Total expenses for the quarter escalated by 39.9% to ₹555.7 Cr, up from ₹397.1 Cr in the prior year's comparable period. Including other income, Zaggle's total income for the quarter amounted to ₹586.2 Cr. The company also reported a tax expense of ₹7.3 Cr and a gain of ₹1.3 Cr from its share of an associate's profit.
