India, May 14 -- Shares of Zaggle plunged as much as 19% during the intraday trading to hit a low of Rs.230.5 on BSE after the fintech SaaS company reported a sequential decline in margins despite strong top line growth in the March quarter.

The stock later pared some of the losses and was trading 17.7% lower at Rs.234 apiece at 11:45 IST. The company's market capitalisation stood at Rs.3,147 Cr (about $328 Mn) at the time.

With today's sharp fall, the stock saw its biggest single-day decline since listing.

Over the past month, the stock is down 9.6%, while it has declined nearly 40% in the last six months and about 32% so far this year.

The stock fell today as investors reacted negatively to the decline in margins and rising cashback...