CONNECT WITH US
Funding Tracker

Funding Tracker

Turtlemint posts Rs 342 Cr revenue in Q2 FY27, losses narrow 67%

Entrackr logo

Published on

Add as a preferred source on Google
Turtlemint posts Rs 342 Cr revenue in Q2 FY27, losses narrow 67%

Insurance distribution platform Turtlemint announced its financial results for the second quarter of FY27. The company reported a 35.2% year-on-year growth in its revenue during the quarter, while its net loss narrowed 67.1% to Rs 25.83 crore.

Turtlemint's revenue from operations increased 35.2% year-on-year to Rs 342 crore in Q2 FY27, compared with Rs 253 crore in Q2 FY26, according to the company’s financial statements filed with the NSE.

Founded by Dhirendra Mahyavanshi and Anand Prabhudesai, Turtlemint operates a technology-led platform for the distribution of insurance and other financial products.

The firm also recorded Rs 9.5 crore in other income, taking its total income to Rs 352 crore in Q2 FY27 from Rs 255 crore in the corresponding quarter last year.

Turtlemint's total expenses increased 25% to Rs 375 crore in Q2 FY27 from Rs 300 crore in Q2 FY26. The company does not disclose a detailed breakup of its expenses in its financial statements.

Among the reported expense heads, other expenses surged 31% to Rs 306.50 crore, while employee benefit expenses rose 4.2% to Rs 64.23 crore. Depreciation expenses stood at Rs 4.30 crore during the quarter.

At the bottom line, Turtlemint narrowed its net loss by 67.1% to Rs 25.83 crore in Q2 FY27, compared with a loss of Rs 78.45 crore in Q2 FY26.

6% to Rs 637 crore from Rs 463 crore in H1 FY26. 42 crore from Rs 125 crore in the corresponding period last year.



Source link
Related Topics:Funding Tracker

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.