The firm’s revenue saw a significant increase of 42% year-on-year, reaching ₹357 crore, up from ₹252 crore in the previous year’s quarter.
The earnings before interest, taxes, depreciation, and amortization (EBITDA) loss decreased to ₹4.1 crore for the quarter, compared to an EBITDA loss of ₹37.3 crore in the same period last year. Service EBITDA grew by 60% year-over-year, totaling ₹60 crore.
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FY26
In FY26, revenue from operations surged by 57% to ₹1,098 crore. The company onboarded over 1.1 lakh digital partners throughout the year, raising the total to more than 6.5 lakh as of March 31, 2026.
Service EBITDA experienced a 70% year-on-year increase to ₹142 crore during FY26, while Platform Premium rose by 31% year-on-year to ₹3,868 crore. Renewal revenue climbed 51% to ₹224 crore.
The adjusted EBITDA as a percentage of revenue improved to 10% in FY26, up from 27% in FY25. Corporate overheads as a percentage of revenue fell to 23% in FY26 from 38% in FY25.
Dhirendra Mahyavanshi, Chairperson, Managing Director, and CEO, stated, “This quarter’s growth demonstrates the distribution strength of our platform and ecosystem.
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We are thrilled to embark on our journey as a listed company, showcasing the resilience of our business model and disciplined execution. Currently, over 6.5 lakh Digital Partners, backed by alliances with 46 insurers and spanning more than 19,000 PIN codes, are making insurance more accessible to millions of Indians.”
Anand Prabhudesai, Executive Director and COO, remarked, “As we persist in investing in technology and AI, our focus remains on empowering our partners, enhancing customer experiences, and establishing one of India’s most trusted digital insurance distribution platforms.
The business is in robust condition, with strong momentum in our core growth drivers, and we remain committed to implementing our long-term strategy to generate sustained value for all stakeholders.”
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Shares of Turtlemint Fintech Solutions Ltd closed at ₹135.90, down ₹2.45, or 1.77%, on the BSE.
