--- title: "Turtlemint’s loss fell to ₹26 crore as premiums on its platform rose 55%" summary: "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." url: https://www.thetechbag.com/blog/turtlemint-loss-26-crore-premiums-55-percent format: Note desk: "Markets & the AI economy" region: India published: 2026-11-12 facts_checked: 2026-11-12 author: TechBag (The TechBag Journal) tags: ["Turtlemint results","Turtlemint share","Turtlemint Q2","insurtech India","Turtlemint Q2 results","Turtlemint IPO","Turtlemint","insurance distribution","Point of Sales Person","PoSP","insurtech","IRDAI","service EBITDA","earnings","NSE","insurance broker"] cover: https://www.thetechbag.com/blog/covers/turtlemint-loss-26-crore-premiums-55-percent.png --- # 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.* Note · Markets & the AI economy · By TechBag · Published 2026-11-12 · Facts checked 2026-11-12 · Canonical: https://www.thetechbag.com/blog/turtlemint-loss-26-crore-premiums-55-percent 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 ## How 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] TechBag countTwo ratios the filings do not print Revenue was 28% of platform premium in the quarter, down from 32% a year earlier: premium grew faster than what Turtlemint kept from it. And with 93,580 partners selling in an average quarter of the half-year against 7,28,138 signed up, about one in eight sold a policy.[3] The filings do not explain the lower share. ## What narrowed the loss **Figure: 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 | | --- | --- | --- | | 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](https://www.thetechbag.com/blog/shiprocket-swings-to-profit-revenue-up-35). How we did this Figures as of 12 November 2026, 8:30pm IST Revenue, loss, exceptional items, other income and the use of share-sale money are from the consolidated results filed at 5:47pm IST, whose tables are scanned pages read as images; figures are ₹ crore as printed. Platform premium, service and adjusted EBITDA, overheads, partner counts and the share of premium outside the 30 largest cities are Turtlemint’s own measures from its presentation and release, which say a chartered accountant certified them; they are not part of the auditor-reviewed statement. Service EBITDA is defined as above, in the release’s words. Our arithmetic: the 35% revenue rise, the one-off items’ 43% share of last year’s loss, revenue as a share of premium (₹342 crore of ₹1,214 crore against ₹253 crore of ₹786 crore), and active partners (the half-year’s quarterly average) against partners signed up at 30 September. The press release is dated “Friday, 12 November 2026”; 12 November was a Thursday, as the board’s own outcome letter says. Spotted an error? Write to us; corrections are published at the foot of the piece. Sources 1. [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)](https://nsearchives.nseindia.com/corporate/TURTLEMINT_12112026174612_Outcome_of_Board_Meeting_12112026.pdf) — 12 November 2026 2. [Turtlemint Fintech Solutions, press release on results for Q2 FY27 (NSE)](https://nsearchives.nseindia.com/corporate/TURTLEMINT_12112026182806_Intimation_to_Stock_Exchange_Press_Release.pdf) — 12 November 2026 3. [Turtlemint Fintech Solutions, investor presentation, Q2 and H1 FY27 (NSE)](https://nsearchives.nseindia.com/corporate/TURTLEMINT_12112026180102_Investor_Presentation.pdf) — 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. Go deeper on TechBag - [Shiprocket swings to a ₹60 lakh profit](https://www.thetechbag.com/blog/shiprocket-swings-to-profit-revenue-up-35) — another listed Indian platform’s quarter, IPO money included, read line by line - [PhysicsWallah’s profit doubled to ₹142 crore](https://www.thetechbag.com/blog/physicswallah-profit-doubles-ai-writes-90-percent-code) — another Indian company’s July to September quarter, read from its filing - [NPST’s revenue rose 45%](https://www.thetechbag.com/blog/npst-revenue-45-percent-resold-goods) — a fintech whose headline growth needed its base