Turtlemint Financial Results Q2 FY27: Strong Revenue Growth
Turtlemint has revealed its financial results for the second quarter of FY27. The company achieved an impressive 35.2% year-on-year increase in revenue during this period, while successfully reducing its net loss by 67.1%, bringing it down to Rs 25.83 crore.
Revenue Details for Q2 FY27
The revenue from operations for Turtlemint reached Rs 342 crore in Q2 FY27, marking a year-on-year rise from Rs 253 crore recorded in Q2 FY26. This information is based on the financial statements submitted to the NSE.
Company Overview
Turtlemint was established by Dhirendra Mahyavanshi and Anand Prabhudesai and operates a technology-driven platform for distributing insurance and various financial products.
Income and Total Earnings
In addition to its operational revenue, Turtlemint reported Rs 9.5 crore in other income, which contributed to a total income of Rs 352 crore for Q2 FY27, an increase from Rs 255 crore in the same period last year.
Expenses Overview
The total expenses for Turtlemint rose by 25% to Rs 375 crore in Q2 FY27, up from Rs 300 crore in Q2 FY26. Though the company does not provide a detailed breakdown of its expenses, several notable increases were recorded.
Key Expense Increases
Among the expenses, other expenses surged by 31% to Rs 306.50 crore, while employee benefit expenses climbed by 4.2% to Rs 64.23 crore. Depreciation expenses were recorded at Rs 4.30 crore during this quarter.
Net Losses and First Half Performance
On the bottom line, Turtlemint narrowed its net loss significantly by 67.1% to Rs 25.83 crore in Q2 FY27, compared to a loss of Rs 78.45 crore in Q2 FY26. For the first half of FY27 (H1 FY27), the company’s revenue from operations grew by 37.6% to Rs 637 crore, up from Rs 463 crore in H1 FY26. Concurrently, net losses decreased by 50.9% to Rs 61.42 crore from Rs 125 crore during the same period last year.
Market Performance
On Thursday, Turtlemint shares concluded at Rs 61.13 each, providing the company with a market capitalisation of Rs 1,800 crore.