Zaggle CFO Resigns; Interim Replacement Named
An employee leaves an office, carrying a box and a plant, while a colleague gestures goodbye.
Key Highlights
Zaggle announces CFO Aditya Kumar’s resignation, effective April 3, citing personal reasons. Rajesh Tummalaganti appointed as interim CFO. Key leadership change.
Zaggle, a listed fintech SaaS company, has announced the resignation of its chief financial officer (CFO), Aditya Kumar, effective April 3. Kumar cited “personal reasons” for his departure from the company.
Kumar joined Zaggle in 2022 as vice president of finance and was later promoted to the CFO position. His career spans over 14 years, including positions at Spandana Sphoorty, noon, and The Sanmar Group.
The company has appointed Rajesh Tummalaganti, the deputy CFO, as interim CFO. Tummalaganti joined Zaggle in December 2025, following a 13-year tenure with Head Digital Works, the parent company of the RMG gaming platform A23.
This leadership change occurs during a period of significant business activity for Zaggle. The company recently finalized its acquisition of UPI provider Rio.Money, now Zagg, and its board has approved a ₹50 Cr investment in this subsidiary. However, Zaggle’s board has also called off the acquisition of a majority stake in SaaS firm Effiasoft, reassessing the deal’s strategic necessity. The company had previously planned to acquire a 51% stake in Effiasoft for ₹41.31 Cr in May 2025.
Zaggle anticipates strong revenue growth in FY27, projecting a 25-30% increase in standalone revenue and approximately 40% consolidated revenue growth, driven by robust business performance across its various segments.
In Q3 FY26, Zaggle reported a net profit of ₹37.1 Cr, an 88% increase from the previous year’s ₹19.7 Cr. The company’s operating revenue for the quarter was ₹525.6 Cr, reflecting a 56% year-over-year increase and a 22% quarter-over-quarter increase.
Zaggle’s shares closed Thursday’s trading session up by 8.22% at ₹234.95.