Turtlemint’s loss fell to ₹26 crore as premiums on its platform rose 55%
Turtlemint’s results for July to September: how its insurance-selling app earns, what narrowed the loss, how many of its 7.28 lakh partners sell, and where premium outgrew revenue.
Turtlemint, the Mumbai company whose app lets part-time insurance agents sell policies from 46 insurers,3 lost ₹25.83 crore in July–September, against ₹78.45 crore a year earlier and ₹37.78 crore in the quarter before. Revenue rose 35%, to ₹342.19 crore.1 Premiums written through its platform rose 55%, to ₹1,214 crore.2 It was the company’s second quarter as a listed company: its shares began trading on 29 June at an issue price of ₹152.1
₹25.83 cr
loss for July–September, from ₹78.45 crore a year earlier
NSE filing
₹1,214 cr
premium written through the platform, up 55%
Turtlemint
₹342 cr
revenue from operations, up 35%
NSE filing
7.28 lakh
digital partners signed up at 30 September
Turtlemint
01How Turtlemint earns
Turtlemint’s broking subsidiary signs up “digital partners”: self-employed people, homemakers, retired staff and financial distributors who qualify as Point of Sales Persons, the category of insurance seller IRDAI’s rules certify after 15 hours of training. Through the Turtlemint Pro app they compare quotes, issue policies and track renewals and claims; Turtlemint is paid by insurers and passes a payout to the partner.3 More than 76% of its premium came from outside India’s 30 largest cities.3
Its headline profit measure is “service EBITDA”: revenue minus the cost of acquiring the business (commissions paid included), the sales staff who support partners, and the platform costs of issuing policies, renewals and claims. It rose 47% to ₹45 crore. After ₹66 crore of corporate overheads, unchanged on a year earlier, adjusted EBITDA was minus ₹21 crore, or minus 6% of revenue, from minus 14%.2
02What narrowed the loss
Revenue rose 35% in a year while the quarterly loss fell to ₹25.83 crore
Turtlemint consolidated revenue from operations and loss for the period, ₹ crore, three quarters
- Revenue
- Loss
₹ crore
Show tableHide table
| Revenue | Loss | |
|---|---|---|
| Jul–Sep 2025 | 252.84 | 78.45 |
| Apr–Jun 2026 | 294.98 | 37.78 |
| Jul–Sep 2026 | 342.19 | 25.83 |
Source: Turtlemint, unaudited consolidated results, NSE filing of 12 November 2026 · as of 12 November 2026 · The year-earlier loss includes ₹33.98 crore of one-off items.
₹33.98 crore of last year’s loss, 43%, was one-off: ₹31.57 crore booked when preference shares’ conversion ratio was revised ahead of the listing, and ₹2.41 crore of share-sale costs. Before those items, the loss fell to ₹23.55 crore from ₹44.47 crore. Other income rose to ₹9.47 crore from ₹2.46 crore.1 Of the ₹660.72 crore the share sale raised for the company, ₹19.25 crore had been spent by 30 September.1 For the half-year, the loss was ₹63.61 crore, against ₹125.14 crore.1
What to watch: whether premium keeps outgrowing revenue, and how many signed-up partners sell. Other listed Indian platforms’ quarters, read the same way, include Shiprocket’s swing to profit.
Sources
- Turtlemint Fintech Solutions, outcome of board meeting: unaudited standalone and consolidated results for the quarter and half year to 30 September 2026, with limited review reports (NSE) — 12 November 2026
- Turtlemint Fintech Solutions, press release on results for Q2 FY27 (NSE) — 12 November 2026
- Turtlemint Fintech Solutions, investor presentation, Q2 and H1 FY27 (NSE) — 12 November 2026
Disclosure. TechBag is a software reseller: it earns when companies buy through it, including from vendors named here. The analysis is TechBag’s own; no vendor paid for or saw this piece before publication. Facts are labelled reported, TechBag count or our view.
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