Turtlemint Fintech climbs after Q1 net loss narrows to Rs 38 cr
Negative EBITDA improved to Rs 31 crore in Q1 FY27 from negative EBITDA of Rs 42 crore in the year-ago quarter.
Platform premium rose 49.8% year on year to Rs 1,205 crore in Q1 FY27 from Rs 804 crore in Q1 FY26. Platform premium refers to the total premium and consideration received on insurance policies issued or re-issued by insurers through Turtlemint's platform.
Renewal revenue increased 66% during the quarter, indicating continued customer retention on the platform. The company also reported an improvement in operating leverage, with corporate overheads as a percentage of revenue declining to 22% in Q1 FY27 from 30% in Q1 FY26.
Dhirendra Mahyavanshi, chairperson, managing director & CEO, Turtlemint said, Our momentum has continued to Q1 FY27, with platform premium growing 49.8% and revenue from operations up from 40% year on year. This reflects the continued strength of our distribution ecosystem and the trust our partners and customers place in us. We are pleased with the pace at which our platform continues to scale across 19,000+ pincodes.?
Anand Prabhudesai, executive director & COO, Turtlemint said, ?Service EBITDA growth of 89% Y-o-Y is a clear signal that our platform economics are strengthening at scale. Technology continues to be the core reason behind the increasing efficiency across every layer of the business, from digital partner onboarding to sales support. The strong performance in Q1 FY27 gives us confidence that we are building a durable and scalable business for the long term.?
The company was listed on the stock exchanges on 29 June 2026. The stock debuted at Rs 136.20, a 10.39% discount to its issue price of Rs 152. The company's initial public offering received bids for 3,95,47,704 shares against 3,29,01,878 shares on offer, resulting in an overall subscription of 1.20 times.
Turtlemint Fintech Solutions is a tech-enabled insurance distribution platform that connects customers, insurance advisors (digital partners) and insurers.
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