Zaggle's stock surges 19% after record profit and fintech acquisition
Zaggle's shares jumped sharply on Wednesday after the company announced strong financial results and a new acquisition. The fintech firm reported a net profit of ₹37.1 crore in Q3 FY26, marking an 88% rise from the same period last year. Investors responded positively, pushing the stock up by as much as 19.2% during the day's trading.
The company's operating revenue surged 56% year-on-year and 22% quarter-on-quarter, reaching ₹525.6 crore in Q3 FY26. This growth came alongside the announcement of Zaggle's full acquisition of fintech startup Rio.Money, though financial details of the deal were not disclosed.
Zaggle also provided an optimistic outlook for FY27, forecasting standalone revenue growth of 25-30%. On a consolidated basis, the company expects revenue to climb by roughly 40%. The positive update sent shares soaring to ₹223 on the BSE before settling 16% higher at ₹217.1 by the close of trading. Despite the rally, Zaggle's stock remains down 36% since the start of the year. The broader market also showed signs of recovery, with the Sensex rising 1.65% and the Nifty 50 gaining 1.56% on the same day. Zaggle's market capitalisation now stands at ₹2,919.09 crore (around $320 million).
The sharp rise in Zaggle's share price reflects investor confidence in its financial performance and expansion plans. With revenue growth projections for FY27 and the recent acquisition, the company appears to be strengthening its position in the fintech sector. The broader market's upward movement further supported the day's gains.
