ZAGGLE PREPAID SHARES HIT A 20% LOWER CIRCUIT, FALLING TO A 52-WEEK LOW AFTER WEAK JUNE-QUARTER EARNINGS

Zaggle Prepaid Ocean Services hit the 20% lower circuit, marking a fresh 52-week low, after the SaaS fintech company reported weak earnings for the June quarter. The sharp sell-off followed a 32.9% year-on-year decline in consolidated net profit. On a sequential basis, profit plunged 56.8% reported in Q4. Revenue also declined 31.5% in the preceding quarter. Profitability came under further pressure, with Zaggle’s adjusted EBITDA margin narrowing to 8.2%. The company described the period as an important inflection point as it transitions from a decade of profitable growth towards a phase focused on consolidation and transformation. Management said its priorities include optimising core operations, expanding the use of artificial intelligence across its platforms, integrating recent acquisitions and maintaining greater discipline around capital allocation and cash flows. Zaggle attributed the margin pressure partly to one-time expenses linked to its acquisition of Dice, including transaction costs and relocation expenses for more than 100 employees. The company also clarified that revenue from Dice contracts was not recognised during the June quarter and is expected to start contributing from Q2 FY27 onwards. Management expects the ongoing transformation and integration efforts to support higher-margin growth over the longer term.