Zaggle just reported a 24% drop in net profit for Q2 fiscal 2027, landing at ₹25 crore compared to ₹33 crore last year.
The dip came from higher expenses and lower other income, but there is a silver lining: revenue from operations actually jumped 25%, reaching ₹538 crore.
Zaggle allocates ₹317cr from QIP
To stay on track, Zaggle set aside ₹317 crore from its recent fundraising to pay off debt and make strategic moves.
By the end of September, the balance unutilised amount of the QIP proceeds was temporarily invested as deposits with scheduled commercial banks and in a monitoring account.
This year, it also picked up 19.92% of Unobanc Private Ltd. and launched a new subsidiary in Abu Dhabi.