Turtlemint shares jump over 15% after Q1 loss narrows

Turtlemint Fintech Solutions shares surged nearly 15% on Monday following a slight narrowing of its loss in the first quarter of FY27. The company's stock traded at ₹150.30 by 1:13 pm after reaching a high of ₹157.68 from its previous close of ₹137.44. Turtlemint recorded a net loss of ₹35.55 crore in Q1FY27, down from ₹39.65 crore in the same quarter last year.

Revenue from operations increased to ₹20.77 crore in Q1FY27 from ₹7.03 crore in the corresponding period of the previous year. Dhirendra Mahyavanshi, Turtlemint's Chairperson, Managing Director & CEO, attributed the improvement to a 49.8% growth in platform premiums and a 40% increase in revenue from operations year-over-year. He praised the company's distribution ecosystem and the trust placed in it by its partners and customers.

Mahyavanshi also mentioned that the platform is expanding across 19,000+ pincodes. Anand Prabhudesai, Executive Director & COO, noted that the company's service EBITDA growth of 89% year-over-year indicated that its platform economics were strengthening at scale. He attributed this growth to technology being the core reason for increasing efficiency across the business, from digital partner onboarding to sales support.

Prabhudesai expressed confidence in the company's ability to build a durable and scalable business for the long term.