Turtlemint Q2 Loss Narrows About 67% to Rs 25.83 Crore
The listed insurance distribution platform grew its September quarter revenue about 35% to Rs 342.19 crore.
Key Takeaways
- Net loss fell about 67% year on year to Rs 25.83 crore in the September quarter.
- Revenue from operations rose about 35% to Rs 342.19 crore from Rs 252.84 crore.
- Compared with the June quarter, revenue rose about 16% and the loss fell about 32% from Rs 37.78 crore.
- Platform premium was about Rs 1,214 crore, up 55% year on year.
- First-half FY27 net loss was Rs 63.61 crore, against Rs 125.14 crore a year earlier.
Table of Contents 6 sections
Turtlemint Fintech Solutions, the Mumbai-based insurance distribution platform, cut its consolidated net loss by about 67% to Rs 25.83 crore in the September quarter (Q2 FY27), from Rs 78.45 crore in the same quarter last year. The company reported the results to the stock exchanges on November 12, 2026.
Revenue from operations rose about 35% to Rs 342.19 crore from Rs 252.84 crore a year earlier. Compared with the June quarter, revenue was up about 16%, and the net loss fell about 32% from Rs 37.78 crore.
Turtlemint Q2 FY27 at a glance
| Detail | Value |
|---|---|
| Company | Turtlemint Fintech Solutions, Mumbai |
| Period | Quarter ended September 30, 2026 (Q2 FY27) |
| Net loss | Rs 25.83 crore, down about 67% from Rs 78.45 crore a year earlier |
| Net loss in Q1 FY27 | Rs 37.78 crore |
| Revenue from operations | Rs 342.19 crore, up about 35% from Rs 252.84 crore |
| Platform premium | About Rs 1,214 crore, up 55% year on year |
| Adjusted EBITDA | Loss of about Rs 21 crore, from about Rs 35 crore a year earlier |
| Results date | November 12, 2026 |
Insurance sales and renewals drove Turtlemint's quarter
Turtlemint sells insurance policies from many insurers through a large network of advisors it calls digital partners. The total premium on policies sold through the platform, which the company calls platform premium, was about Rs 1,214 crore in the quarter, up 55% year on year.
Renewal revenue, the commission earned when customers renew their policies, was about Rs 71 crore in the quarter. Service EBITDA, the company's measure of profit from its business before corporate overheads, was about Rs 45 crore, up 47% year on year, the company said. Adjusted EBITDA was a loss of about Rs 21 crore, compared with a loss of about Rs 35 crore a year earlier, and it fell to about 6% of revenue from about 14%. The company recruited about 37,000 new digital partners in the quarter and works with 46 insurers.
Turtlemint's first half of FY27 in numbers
For the six months to September 30, 2026, revenue from operations was about Rs 637 crore, up about 38% from about Rs 463 crore a year earlier. The net loss for the half year was Rs 63.61 crore, down about 49% from Rs 125.14 crore. Renewal revenue for the half year was about Rs 136 crore, up 52%, and the company had 728,138 digital partners at the end of September.
Turtlemint's road to the stock market
| When | What happened |
|---|---|
| 2015 | Turtlemint Fintech Solutions incorporated |
| June 29, 2026 | Shares listed on NSE and BSE at Rs 134.90 on NSE, against an IPO issue price of Rs 152. The IPO had a fresh issue of about Rs 661 crore |
| Q1 FY27 (April to June 2026) | Net loss of Rs 37.78 crore |
| Q2 FY27 (July to September 2026) | Revenue of Rs 342.19 crore and a net loss of Rs 25.83 crore |
Turtlemint is led by Dhirendra Mahyavanshi, its Chairperson, Managing Director and CEO.
Where Turtlemint stands after Q2 FY27
Turtlemint's net loss fell from Rs 37.78 crore in the June quarter to Rs 25.83 crore in the September quarter, while revenue grew to Rs 342.19 crore. For the first half of FY27, the company reported revenue of about Rs 637 crore and a net loss of Rs 63.61 crore, down from Rs 125.14 crore a year earlier. The company had 728,138 digital partners and worked with 46 insurers at the end of September.
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