Aditya Kumar has stepped down from his role as chief financial officer (CFO) at Zaggle, a listed fintech SaaS company, effective April 3. Kumar cited personal reasons for his resignation.
Joining Zaggle in 2022 as vice president of finance, Kumar was promoted to CFO later that year. His prior experience includes significant roles at companies such as Spandana Sphoorty, noon, and The Sanmar Group, spanning over 14 years.
In the wake of Kumar's departure, Rajesh Tummalaganti, who previously served as deputy CFO, has been appointed as interim CFO. Tummalaganti joined Zaggle in December 2025 after a lengthy tenure with Head Digital Works, the parent company of gaming platform A23.
This leadership change occurs as Zaggle is actively pursuing growth opportunities. Recently, the company finalized the acquisition of UPI provider Rio.Money, which has been rebranded as Zagg. Additionally, Zaggle's board approved a ₹50 crore investment in its wholly-owned subsidiary.
However, the board also decided to cancel plans for acquiring a majority stake in Effiasoft, a SaaS firm, after reassessing the strategic necessity of the deal. The initial plan involved purchasing a 51% stake for ₹41.31 crore, announced in May 2025.
Financially, Zaggle anticipates robust growth for FY27, projecting standalone revenue growth of 25-30% and consolidated revenue growth of approximately 40%. This optimism follows a strong business momentum across its various segments.
The company has yet to release its earnings for Q4 FY26. In Q3, Zaggle reported a net profit of ₹37.1 crore, marking an 88% increase from ₹19.7 crore the previous year, with operating revenue rising 56% year-over-year to ₹525.6 crore.
Following these developments, Zaggle's shares rose by 8.22% to close at ₹234.95 on Thursday.
