{
  "id": 1442728,
  "title": "Zaggle Plunges 20% To Hit Lower Circuit After Q1 Profit Slump",
  "url": "https://urgent.news/2026/08/17/zaggle-plunges-20-to-hit-lower-circuit-after-q1-profit-slump",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-17T06:00:01.000Z",
  "source": {
    "name": "Inc42",
    "slug": "inc42",
    "url": "https://inc42.com/buzz/zaggle-plunges-20-to-hit-lower-circuit-after-q1-profit-slump/"
  },
  "original_language": "en",
  "account": "Fintech SaaS company Zaggle Prepaid Ocean Services saw its stock plunge 20% during trading, hitting a low of ₹160.45 apiece and a 52-week low, following a sharp decline in profit for the June quarter. The company's market capitalization fell to ₹2,157.3 Cr ($225.6 Mn). Share prices have dropped 54% this year and 21.3% in the last five trading sessions. Equirus, a brokerage firm, maintained a 'LONG' rating on Zaggle but cut its price target to ₹350 from ₹455, citing slower growth in the core business and near-term margin pressure from the integration of DICE Enterprises. The acquisition is expected to have a negative impact on profitability in the short term. The company's net profit fell 33% to ₹17.5 Cr in Q1 FY27 from ₹26.1 Cr a year earlier, with sequential profit down 57%. Revenue rose 28% YoY to ₹423.3 Cr but fell 32% from the previous quarter. Profitability weakened during the quarter, with adjusted EBITDA rising 4% YoY to ₹34.7 Cr, but margin contracting to 8.2% from 10.1%. The decline was attributed to costs related to DICE Enterprises and Zagg.Money acquisition. Despite the weak results, Zaggle retained its revenue-growth target of about 40% for FY27, expecting growth from DICE acquisition and increased AI deployment. Founding chairman Raj P Narayanam said this marks an important inflection point for the company as it moves into a phase of transformation through consolidation.",
  "summary": "Shares of fintech SaaS company Zaggle Prepaid Ocean Services plunged 20% during the intraday trading today to ₹160.45 apiece, hitting…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}