Zaggle Prepaid Ocean Services Limited announced its unaudited financial results for the quarter ended June 30, 2026. The company reported a 27.5% increase in revenue from operations, reaching ₹4,232.7 million. However, Profit After Tax saw a significant decline of -32.9%, standing at ₹175.3 million for the quarter.
Zaggle Reports Q1 FY27 Financial Performance
Zaggle Prepaid Ocean Services Limited, a SaaS fintech player, has announced its unaudited financial results for the first quarter of the financial year 2027 (Q1FY27), which ended on June 30, 2026. The company has demonstrated robust top-line growth, with revenue from operations increasing by 27.5% to ₹4,232.7 million compared to the same quarter in the previous year (Q1FY26).
Key Financial Highlights
The Adjusted EBITDA saw a modest increase of 4.0%, reaching ₹347.4 million. The Adjusted EBITDA Margin for the quarter was 8.2%, a decrease from 10.1% in Q1FY26. Notably, Profit After Tax experienced a substantial decrease of -32.9%, falling to ₹175.3 million from ₹261.1 million in Q1FY26. The PAT Margin also decreased to 4.1% from 7.9% year-on-year.
Factors Influencing Performance
Key highlights indicate that revenue margins surged due to strong performance from Greenedge and overriding commissions. An optimization in incentive and cashback as a percentage of revenue was observed. The reduction in EBITDA Margin is attributed to expenses related to the Dice acquisition, including transaction costs and one-time vendor payments. Revenue from Dice contracts, which were not captured in Q1 FY27, are expected to reflect from Q2 FY27 onwards. Additionally, moderated expense capitalization and increments for existing employees, along with added employee costs from the Zagg.Money acquisition, have influenced the results.
Strategic Outlook
Raj P Narayanam, Founder and Executive Chairman, stated that Q1 FY27 marks an inflection point for Zaggle, transitioning into a phase of transformation through consolidation. The company’s focus is on optimizing core operations, scaling AI, integrating recent acquisitions, and strengthening cash flow discipline for higher-margin growth. Zaggle has also completed an investment of ₹80 million in Unobanc Private Limited to enhance cross-border payment capabilities.
Source: BSE
