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Source: inc42

Zaggle Plunges 20% To Hit Lower Circuit After Q1 Profit Slump

Business

Zaggle shares plunged 20% to a 52-week low of ₹160.45 after the fintech company reported a 33% year-on-year decline in Q1 net profit to ₹17.5 crore. Despite a 28% rise in operating revenue to ₹423.3 crore, margins were pressured by the integration of DICE Enterprises and Zagg.Money. Consequently, Equirus lowered its target price to ₹350, although Zaggle maintains its 40% revenue-growth target for FY27.

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Source: inc42

The RDI Fund Row, PM’s I-Day Address & More

Business

The prompt asks to summarize the "news article content." Usually, this means the primary lead story, but since it's a newsletter/digest, I should focus on the main controversy regarding the RDI fund as it's the most detailed part, or provide a high-level overview of the digest. However, the lead story is the most substantial. Let's focus on the RDI fund controversy as the core "news" while acknowledging the broader context if possible, but the RDI fund is the primary focus.

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Source: inc42

Lenskart’s Scale Meets Profits

Business

"Lenskart's Q1 FY27 results show a strategic shift toward productivity-led growth, with revenue rising 34% and net profit jumping 182% to ₹228 crore. The eyewear giant is diversifying its market reach by pursuing both premiumization and a new ₹500 budget offering. Additionally, Lenskart is scaling its international business and enhancing supply-chain control through increased in-house production and data-driven store selection to improve overall operational efficiency.".

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Source: inc42

RDI Fund Row: Deeptech Investors Seek More Transparency, Independent Oversight

Business

India's ₹1 Lakh Cr Research, Development and Innovation (RDI) fund faces scrutiny after 15 of 22 companies in its first ₹2,192 Cr allocation were linked to selection committee members. These companies received 62% of the funds. While the government maintains that conflict-of-interest safeguards were followed, investors warn that a lack of transparency could favor established networks and undermine trust in government-backed deeptech capital.

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Source: inc42

Can Astrotalk Chart A Future Beyond Astrology?

Business

Astrotalk has become India's 133rd unicorn through an internal ESOP buyback rather than external funding. The company's operating revenue surged from ₹283 crore in FY23 to ₹1,176 crore in FY25. As it prepares for an IPO, Astrotalk is diversifying its core astrology consultation business into e-commerce via the Astrotalk Store and expanding internationally, particularly in the US, to drive future growth and valuation.

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Source: inc42

Ola Electric Unveils Three New Energy Storage Products

Business

Ola Electric has launched three new battery energy storage systems: the residential Ola Shakti Gen 2, the industrial Shakti Rack, and the utility-scale Mahashakti. Utilizing in-house 4680 Bharat lithium-ion cells, these products aim to diversify revenue streams and increase Gigafactory utilization. Residential variants are priced from ₹99,000, with deliveries starting in November 2026, while industrial solutions are expected by March 2027 to bolster the company's energy portfolio.

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Source: inc42

IPO-Bound Zypp Electric Slashes FY26 Loss By 45% YoY To ₹60 Cr

Business

EV logistics startup Zypp Electric significantly reduced its consolidated net loss to ₹59.7 crore in FY26, a 44.4% decrease from the previous year. Operating revenue grew 5.2% to ₹461 crore, driven largely by a 24% increase in EV rental income. As the company prepares for a $200 million IPO within the next 22 months, it continues to optimize costs while expanding its battery-swapping infrastructure.

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Source: inc42

Turtlemint Jumps 23% To Lead Weekly Gains In New-Age Tech Stocks, Veefin Biggest Loser

Business

New-age tech stocks experienced significant divergence this week, driven by Q1 FY27 earnings and business updates. Turtlemint led the rally with a 22.64% gain, while Veefin Solutions saw the steepest decline of 13.76%. Overall, 30 stocks rose and 29 fell, with the combined market capitalization reaching $162.73 billion. Meanwhile, the broader Indian market declined due to geopolitical tensions and rising crude oil prices affecting investor sentiment.

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Source: inc42

CRED-Backed NewTap Finance’s FY26 Profit More Than Doubles To ₹2.4 Cr

Business

CRED-backed NBFC NewTap Finance reported a net profit of ₹2.4 crore in FY26, more than doubling its previous year's earnings. Total income surged 116% to ₹259 crore, while assets under management reached ₹4,582 crore, with 81% held off-book through co-lending partnerships. Despite gross Stage 3 assets increasing to 0.94%, the lender maintained a collection efficiency over 97%, primarily serving high-credit-score borrowers via the CRED platform.

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Source: inc42

EaseMyTrip Slips Into Red With ₹11.7 Cr Loss In Q1; Revenue Rises 18% YoY

Business

EaseMyTrip reported a consolidated net loss of ₹11.7 crore in Q1 FY27, compared to a profit of ₹44 lakh in the previous year. Despite an 18.4% year-on-year increase in operating revenue to ₹134.7 crore, total expenses surged by 29.8%. Growth was driven by hotel packages and Dubai operations, while air revenue declined. Gross booking revenue rose 14.8% to ₹2,371 crore as the company pursues its Vision 2030 strategy.

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Source: inc42

IPO-Bound Zetwerk’s FY26 Loss Widens To ₹1,606.2 Cr Despite 40% Uptick In Revenue

Business

Zetwerk, a full-stack contract manufacturer, reported a widened net loss of ₹1,606.2 crore for FY26, despite a 40.4% increase in operating revenue to ₹15,913.3 crore. The company's restated loss improved to ₹41.1 crore. Preparing for an IPO, Zetwerk plans a ₹2,600 crore fresh issue to repay borrowings and fund acquisitions. The firm operates over 26 facilities globally, serving major clients like Siemens Gamesa and Acer India.

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Source: inc42

PM Modi Bets On Tech To Empower Youth With AI Skilling, Online Coaching

Business

During his 80th Independence Day address, Prime Minister Narendra Modi announced free online coaching for competitive exams and AI training for 10 million youth over the next year. He highlighted India's semiconductor progress, with three plants active and more coming soon. Additionally, Modi introduced the "Sapta Dhara" roadmap, focusing on manufacturing, technology, and innovation to transform India into a developed nation by 2047.

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Source: inc42

AI Startups To Watch: 5 Startups That Caught Our Eye In August

Business

India's AI sector is evolving beyond general foundation models toward specialized infrastructure and domain-specific applications. Supported by the ₹10,300 Cr IndiaAI Mission and surging investment, startups are now tackling real-world deployment. Five emerging ventures—Clairva, Coreworks, eNLife Research, Kalpnk, and UpKraft—exemplify this shift, focusing on physical-world data, business intelligence, healthcare, filmmaking, and education to build a self-reliant, globally competitive AI ecosystem tailored to Indian needs.

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Source: inc42

Atomberg To Form JV With Voltas To Manufacture AC Compressors

Business

IPO-bound startup Atomberg has partnered with Tata-owned Voltas to form a joint venture for manufacturing energy-efficient room air conditioner compressors in India. While Voltas will serve as the anchor customer, the venture can supply other clients. This partnership leverages Voltas' market scale and Atomberg's engineering expertise. The move comes as Atomberg prepares for a public offering to raise between ₹1,500 crore and ₹2,000 crore.

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Source: inc42

WeWork Inc Sells 2.5% Stake In WeWork India For ₹244 Cr

Business

US-based WeWork Inc sold a 2.53% stake in WeWork India, offloading 35 lakh shares for ₹244.1 crore at ₹697.55 apiece. The bulk deal, involving buyers like ICICI Prudential MF and Motilal Oswal, allowed the company to book profits after shares surged 43.3% in three months. Despite a Q1 FY27 loss of ₹4.1 crore, WeWork India saw revenue grow 28% and expanded its desk capacity to 1.3 lakh.

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Source: inc42

Maharashtra FDA Suspends Licences of 14 Dark Stores Of Blinkit, Zepto & Instamart

Business

The Maharashtra Food and Drug Administration has suspended the licenses of 14 dark stores operated by Blinkit, Zepto, and Instamart due to widespread food safety and hygiene violations. Following inspections of 86 establishments, officials also issued 60 improvement notices. This crackdown reflects increasing regulatory scrutiny of quick commerce platforms, coinciding with similar actions in Karnataka and a surge in consumer complaints regarding these rapidly expanding delivery networks.

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Source: inc42

Redcliffe Labs, Skyroot Partner To Test Diagnostic Reagents In Space

Business

Redcliffe Labs has partnered with Skyroot Aerospace for the DRIFT-1 experiment, testing the stability and performance of dry diagnostic reagents in Low Earth Orbit for 90 days. By comparing space-exposed reagents with Earth-based controls, the startups aim to develop resilient diagnostic technologies for space missions and remote terrestrial environments lacking laboratory infrastructure. This collaboration supports astronaut healthcare and future Indian space programs like Gaganyaan and the Bharatiya Antariksh Station.

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Source: inc42

PhysicsWallah Q1 Revenue Crosses ₹1,000 Cr Mark, Loss Down 31% YoY

Business

"Edtech company PhysicsWallah reported operating revenue of ₹1,054 crore for the June quarter of FY27, marking a 24.4% year-on-year increase. While total income reached ₹1,162.8 crore, expenses rose 18% year-on-year to ₹1,247 crore. The company's net loss narrowed by 30.5% year-on-year to ₹88.3 crore, although it widened by 27.8% compared to the previous quarter. These figures highlight growth in revenue despite ongoing financial losses.".

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Source: inc42

Turtlemint Q1: Loss Trims 19% YoY To ₹38 Cr, Operating Revenue Increased 40%

Business

Insurtech company Turtlemint reported a net loss of ₹37.8 crore for Q1 FY27, a 19% decrease from the ₹46.7 crore loss recorded in the same quarter last year. Despite this improvement, the company shifted from a sequential net profit of ₹3.1 crore. Operating revenue grew 40% year-on-year to ₹294.1 crore, although it declined 18% sequentially. Total expenses for the quarter rose 28% year-on-year to ₹333.5 crore.

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Source: inc42

Zaggle Q1 Profit Dips 33% YoY To ₹17.5 Cr Despite 28% Revenue Jump

Business

Fintech SaaS company Zaggle reported a net profit of ₹17.5 crore for Q1 FY27, marking a 33% year-on-year decline and a 57% sequential drop. While operating revenue grew 28% year-on-year to ₹423.3 crore, it fell 32% compared to the previous quarter. Total expenses rose 31% annually to ₹406.7 crore, though they decreased 29% sequentially. The company's total income for the quarter reached ₹429.9 crore.

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