Shares of the listed fintech SaaS major, Zaggle, plunged more than 4% in the intraday trade to INR 466.00 apiece on the BSE today (February 7).

The company’s stock was last down 1.4% at INR 479.45 per share, as of 11:10 AM, on the BSE morning trade, driving its market capitalisation down to INR 6,436.48 Cr ($735.8 Mn).

Shares of Zaggle closed at INR 486.30 apiece yesterday (February 6).

Since the start of this year, between January 20 and 28, the company’s stock saw its largest decline of 21.5%.

It is to note that the company is said to report its third quarter financial results today.

However, the stock has gained 18.4% since its last quarter earnings, where the company then reported a 167.67% jump in its consolidated profit after tax (PAT) to INR 20.29 Cr, from INR 7.58 Cr in the year-ago period. Its revenue from operations also zoomed 64.21% to INR 302.55 Cr in Q2 FY25 from INR 184.24 Cr, a year ago.

Founded in 2011 by Raj P Narayanam, Zaggle provides a spend management platform for businesses, along with an employee benefits platform. It has a diversified portfolio of SaaS products, including tax and payroll software.

The company claims to have issued 50 Mn prepaid cards in India via partner banks and serves over 3 Mn users.

In the last 52 weeks, it is observed that the stock has risen 74.8% as of the last close.

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