Zaggle Prepaid Ocean Services Limited announced its unaudited financial results for the quarter and half-year ended September 30, 2026. The company achieved a significant 34.2% year-on-year revenue growth in Q2 FY27. Key highlights include its first-ever positive operating cash flow (OCF) and substantial progress in integrating its Dice acquisition. Revenue from operations reached ₹5,799 million in Q2 FY27.
Zaggle Reports Robust Financial Performance for Q2 FY27
Zaggle Prepaid Ocean Services Limited, a SaaS fintech player, has announced its unaudited Financial Results for the quarter and half-year ended September 30, 2026. The company demonstrated strong year-over-year performance, with revenue from operations growing by 34.2% to ₹5,799 million in the second quarter of FY27 (Q2FY27) compared to ₹4,322 million in Q2FY26. For the half-year ended September 30, 2026 (H1FY27), revenue stood at ₹10,031 million, a 31.3% increase from ₹7,642 million in H1FY26.
Profitability and Cash Flow Improvements
The company reported a Profit Before Tax of ₹324 million in Q2FY27, a decrease from ₹470 million in Q2FY26, with Profit After Tax at ₹245 million. However, for H1FY27, Profit Before Tax was ₹585 million and Profit After Tax was ₹420 million, both representing a decrease compared to H1FY26. A significant achievement highlighted was the company turning OCF positive during Q2FY27 at both standalone and consolidated levels, marking a step towards a more sustainable operating model.
Key Business and Acquisition Highlights
Raj P Narayanam, Founder and Executive Chairman, expressed pleasure over the OCF positive turn and the strong traction in the loyalty and rewards segment. The recent Dice acquisition began contributing to SaaS revenues during the quarter. Integration of Dice is progressing well, with approximately 70% of customer contracts novated, and the company has expanded its enterprise network with new marquee relationships. Zaggle is also focusing on driving adoption of co-branded credit cards and UPI offerings, and has expanded its international presence by establishing Zaggle Holdings Limited in Abu Dhabi Global Market (ADGM).
Operational Performance Metrics
Adjusted EBITDA for Q2FY27 was ₹446 million, showing a slight decrease from ₹465 million in Q2FY26, with an Adjusted EBITDA Margin of 7.7%. For H1FY27, Adjusted EBITDA was ₹793 million. SaaS revenue recorded its highest-ever quarterly performance, driven by revenue recognition from novated contracts post the Dice acquisition. Employee expenses increased due to the addition of employees from the Dice acquisition, while other expenses rose due to marketing costs and user acquisition expenses. Cashback as a percentage of revenue was 66.2%.
Source: BSE
