Turtlemint Reports 19% YoY Loss Reduction and 40% Revenue Growth in Q1
Insurtech firm Turtlemint reported a 19% year-over-year decrease in net loss for the first quarter, with net loss falling to ₹37.8 crore. Operating revenue saw a 40% increase to ₹294.1 crore.
Insurtech company Turtlemint has reduced its net loss by 19% year-over-year in the first quarter of fiscal year 2027, reporting a loss of ₹37.8 crore compared to ₹46.7 crore in the same period last year. Sequentially, the company moved from a net profit of ₹3.1 crore in the previous quarter to a net loss.
Operating revenue for the quarter rose 40% to ₹294.1 crore, up from ₹210.5 crore in the corresponding quarter of the previous fiscal year. However, on a sequential basis, revenue decreased by 18% from ₹357.2 crore.
Total income for the quarter, including other income of ₹1.6 crore, stood at ₹295.7 crore. Total expenses increased by 28% year-over-year to ₹333.5 crore. Turtlemint is a recently listed company operating in the insurance technology sector.