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

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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US courts will start publishing how often the government uses spyware

Startups

Starting in 2029, the U.S. judiciary will begin publicly disclosing the number of judge-authorized wiretaps conducted using hacking tools and spyware. This new data, included in the annual Wiretap Report, follows years of advocacy by Senator Ron Wyden. While the statistics will only cover real-time communication interceptions rather than data extraction, privacy experts believe the move will increase government accountability and transparency regarding electronic surveillance.

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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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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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Tiger Global Offloads Entire Stake In OTT Platform The Viral Fever

Business

Tiger Global has fully exited The Viral Fever (TVF), selling its stake to Lighthouse India Fund-I, Frontier Globecap Ventures, and LC Nueva Advisors. The deal values the digital content studio at $22 million, a 73% drop from its 2019 valuation of $82 million. This exit coincides with leadership changes at TVF and a broader industry trend of reduced spending and fewer original productions across India's OTT streaming ecosystem.

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Can Zepto’s Revenue Engine Outrun Quick Commerce Costs?

Business

Zepto, a quick commerce pioneer specializing in 10-minute deliveries, is preparing for an IPO. While the company has seen massive revenue growth, reaching ₹22,623.58 Cr in FY26, it continues to face significant net losses due to high delivery and warehousing costs. To improve profitability, Zepto is diversifying its revenue through advertising, platform services, and a shift toward a marketplace model to offset operational expenses.

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Meet the former military people who are now entrepreneurs and industry leaders

Startups

Several former Indian armed forces personnel have successfully transitioned into entrepreneurship and corporate leadership. Anthony Anish co-founded Factoryal and MyGate, while Col Sanjeev Govila launched Hum Fauji Initiatives to provide financial services for military families. Chandan Singh Rathore founded Coreshield, an AI-driven security startup, and Teja Manakame became a prominent tech executive at Dell and Curriculum Associates, applying military discipline to their careers.

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Why Infra.Market Is Using Shalimar Paints To Reach The IPO Milestone

Business

Infra.Market is pivoting from a standalone IPO to a reverse-listing strategy through its listed subsidiary, Shalimar Paints. The company, valued at ₹24,620 crore, faces ₹6,057 crore in debt. To address this, Shalimar Paints has proposed a ₹10,545 crore share swap and a ₹1,000 crore qualified institutional placement. This alternative route provides a faster path to public markets and potential debt repayment amid unfavorable market conditions.

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Forgotten, Fierce, Unstoppable: 10 Indian women who fought the Raj and were left out of the textbooks

Startups

Indian history textbooks often overlook the vital contributions of women during the freedom struggle. Beyond a few famous names, numerous women led rebellions, operated underground radio stations, and engaged in revolutionary violence. Figures like Matangini Hazra, Rani Gaidinliu, and Usha Mehta demonstrated immense bravery through guerrilla warfare and strategic espionage. These women played indispensable roles in challenging British colonial rule to secure India's eventual independence.

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5 Books that reveal the power of uncomfortable truths

Startups

Personal growth often stems from confronting uncomfortable truths and challenging long-held beliefs. Several influential books explore these themes: *The Courage to Be Disliked* addresses the need for approval, *Thinking, Fast and Slow* examines cognitive biases, and *The Subtle Art of Not Giving a F*ck* highlights the necessity of struggle. Additionally, *Man’s Search for Meaning* and *The Road Less Travelled* emphasize finding purpose through suffering and discipline.

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Uber and Pony.ai plan to bring 2,000 robotaxis to Europe

Startups

Pony AI and Uber are expanding their partnership to deploy 2,000 robotaxis across four European cities. Under a joint-deployment model, Pony AI will provide the autonomous vehicle technology while Uber offers its ride-hailing platform. Local providers may manage fleet maintenance and charging. While specific cities and timelines remain undisclosed, the companies previously announced a commercial robotaxi service in Zagreb, Croatia, as part of their global expansion.

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Shiprocket IPO Subscribed 25.8X So Far On Final Day Of Bidding

Business

Shiprocket’s ₹1,617.5 crore IPO saw strong demand, becoming 25.8 times subscribed by the final day of bidding. The offering, comprising a fresh issue and an OFS, received bids for 243.83 crore shares. Non-institutional investors led the surge with a 50.27x subscription, while retail and employee quotas were subscribed 28.99x and 34.46x, respectively. Allotment is expected on August 17, with listing scheduled for August 19.

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Zetwerk files updated IPO papers with SEBI

Startups

Zetwerk Manufacturing Business Ltd has filed updated IPO papers with Sebi, featuring a Rs 2,600 crore fresh issue and an offer for sale of 9.68 crore shares. The company intends to use the proceeds primarily to repay debt and fund acquisitions. With FY26 revenue reaching Rs 15,913 crore, the tech-led platform operates a global manufacturing network across sectors like aerospace, defense, and renewable energy.

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Peak XV Leads $45 Mn Bet On US-Based AI Code Testing Startup Blacksmith

Business

<summary> Peak XV led a $45 million Series B funding round for US-based AI code testing startup Blacksmith, valuing it at $55

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ixigo To Sell 17.39% Fresh Bus Stake For ₹36.6 Cr

Business

"ixigo's parent company, Le Travenues Technology, has agreed to sell a 17.39% stake in electric intercity bus startup Fresh Bus to Twelve Stone LLP for ₹36.6 crore. This transaction will reduce ixigo's holding from 25.66% to 8.27%, meaning Fresh Bus will no longer be an associate company. The deal is expected to close by August 30, occurring amid ixigo's broader expansion into AI and European markets.".

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India’s Biggest Startup Backer Is Hiding in Plain Sight

Startups

For a decade, the Indian government supported venture capital through a fund-of-funds model, primarily via SIDBI, to avoid direct company selection and mitigate risk. This arm's-length approach provided critical credibility and capital to the ecosystem. However, recent initiatives like the RDI and semiconductor programs signal a shift toward direct equity ownership in strategic sectors, mirroring trends in the US and China while balancing institutional discipline.

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Uber, Rapido Held Talks To Combine India Operations, Says Report; Rapido Denies

Business

"Uber and Rapido reportedly discussed combining their Indian ride-hailing operations in May, but talks collapsed over the deal's structure. Uber proposed a combination under Rapido's management, while Rapido suggested acquiring Uber's India business. Uber rejected this, unwilling to cede control. Despite the failed talks, Uber is expanding its bike-taxi services to over 220 cities to challenge Rapido's dominance in the growing Indian mobility market.".

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LEAP India Shares List At 4.4% Premium To Issue Price Of ₹159

Business

LEAP India debuted on the BSE and NSE at a 4.4% premium over its ₹159 IPO price, reaching a market capitalization of approximately ₹7,011 crore. The ₹2,480 crore public issue was oversubscribed 8.38 times. Specializing in tech-enabled supply chain solutions, the company reported strong FY26 growth, with net profit rising 66% to ₹62.3 crore and operating revenue increasing 56.4% to ₹729.5 crore.

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10 Landmark books that document India's tech evolution

Startups

India has evolved into a global technology hub through ambition and innovation. A collection of ten landmark books documents this journey, detailing the rise of the IT services industry, the influence of the IITs, and advancements in telecommunications and space exploration. These works also explore digital identity systems and the transformative impact of smartphones, illustrating how technology has reshaped India's economy, governance, and daily life.

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Razorpay’s ChatGPT Gambit, Snapchat’s Next Big Quest & More

Business

The primary focus of the text is Razorpay's move into AI commerce. However, it's a news roundup. A professional summary of a roundup should either focus on the lead story or touch upon the major highlights. Given the structure, the Razorpay story is the most detailed. But since it's a collection of news, I should try to capture the essence of the main story and perhaps mention the other business updates.

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