Overview

• Zaggle posted net profit of ₹25.9 crore for Q1 FY26, up 56% year-on-year, with operating revenue climbing 31.4% to ₹331.5 crore
• The quarter saw a 19% sequential drop in revenue from Q4 FY25, reflecting the company’s historically stronger performance in later fiscal quarters
• Adjusted EBITDA rose 28% to ₹32.7 crore but the margin narrowed by 20 basis points to 9.9% under rising incentive, cashback and redemption expenses
• Propel platform revenue jumped 51% to ₹175.9 crore and program fees increased 15% to ₹145.5 crore, driving top-line growth
• Corporate customers grew 14% to 3,559 and platform users increased 17.3% to 3.3 million as management flagged potential inorganic growth through deals like a proposed Dice Enterprises acquisition