Ashish Kacholia-owned Zaggle hits 20% lower circuit as Q1 profit dips 33%

Zaggle Prepaid Ocean Services’ shares were locked in the lower circuit as they crashed 20 per cent, hitting a 52-week low on Monday after the company reported its April-June quarter (Q1FY27) results.

 

As of 11:44 AM, the company’s share price was locked in at an intraday low of 20 per cent at ₹160.48 apiece; meanwhile, Nifty 50 was trading 0.49 per cent lower at 24,245.90.

 

Fintech firm Zaggle reported a 32.9 per cent decline in consolidated net profit to ₹17.53 crore for the first quarter ended June 30, 2026. The company had posted a net profit of Rs 26.11 crore in the year-ago period.

 

 

Revenue from operations for the quarter under review rose 27.5 per cent to ₹423.26 crore, compared to ₹331.96 crore in the April-June period of the previous fiscal. 

 

Notably, on a sequential basis, the profit saw a sharper decline of 56.8 per cent from Rs 40.60 crore reported in the preceding March quarter, i.e. Q4FY26. Revenue fell by 31.5 per cent from Rs 617.91 crore in the previous quarter.

 

As per BSE data, Ashish Kacholia holds 29.03 lakh shares of Zaggle Prepaid Ocean, valued at around ₹46.6 crore.

 

Vipin Kumar, AVP research at Globe Capital Market, noted that Zaggle has been trapped in a persistent lower-high and lower-low structure since December 2024. Today, the stock witnessed a fresh breakdown marked by a significant downside breakaway gap, dragging prices close to its all-time listing low. Going forward, a sustained move below the critical support level of 155 would signal further structural weakness and deepen bearish sentiment. “Given the strong downward momentum and heavy selling volume, we advise avoiding fresh buys at current levels. Investors should wait for clear signs of price stabilisation and a reversal pattern buildup before considering new long positions,” he added.

 

Zaggle’s share price has fallen sharply across all periods. The stock is down 21.3 per cent in one week, 23.4 per cent in one month, 53.8 per cent year-to-date and 56.3 per cent over one year, underperforming the Nifty Total Market which is up 4.04 per cent in last year.

   

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