Economy
Zaggle Prepaid Shares Crash 20 Percent After Q1 Net Profit Declines
CNBC TV181h
THE BRIEF
1
Shares of Zaggle Prepaid Ocean Services Ltd. crashed 20% on Monday, August 17, following the announcement of its first-quarter financial results for the fiscal year 2027.
2
The company's Q1 net profit fell 33% year-on-year to Rs 17.5 crore from Rs 26.1 crore, while its EBITDA margin declined to 7.3% from 9.2% in the previous year.
3
Zaggle's margins were impacted by acquisition costs for Dice, including relocation expenses for over 100 professionals, with Dice contract revenues delayed until the second quarter.