Results · Financial Services

Zaggle posts strong Q3 profits and announces CFO change

By Startup Enthusiast · 4 April 2026

What they do

Zaggle reported Q3 FY26 net profit of ₹37.1 Cr, up 88% YoY, and operating revenue of ₹525.6 Cr, up 56% YoY

CFO Aditya Kumar resigned effective April 3, 2026, with Rajesh Tummalaganti appointed interim CFO

Zaggle completed acquisition of Rio.Money and cancelled the majority stake acquisition of Effiasoft

Zaggle reported Q3 FY26 financial results showing significant growth in revenue and profit.
The company's operating revenue reached ₹525.6 Cr, marking a 56% year-over-year increase.
Net profit for the quarter stood at ₹37.1 Cr, which is up 88% from the previous year.
Aditya Kumar resigned as Chief Financial Officer effective April 3, 2026.
Rajesh Tummalaganti has been appointed as the interim CFO to replace him.
Zaggle completed the acquisition of UPI provider Rio.Money and renamed it Zagg.
The board approved a ₹50 Cr investment in the newly formed subsidiary Zagg.
The board cancelled its planned majority stake acquisition of SaaS firm Effiasoft.

The cancellation of the Effiasoft deal indicates a reassessment of strategic priorities.

Zaggle operates a corporate spending and expense management platform.
It facilitates payments for employee expenses and vendor transactions.
The company recently acquired Rio.Money to expand its UPI capabilities.
The acquired entity was renamed Zagg and received fresh capital.
Zaggle projects standalone revenue growth of 25-30% for FY27.
Consolidated revenue growth is expected to be approximately 40% for FY27.
The company focuses on digitizing corporate finance workflows.
It serves businesses requiring efficient expense tracking and payment solutions.
Share price rose 8.22% following the positive financial report.