India, Sept. 12 -- In the run-up to its IPO, Turtlemint's insurance arm, Turtlemint Insurance, slipped into the red in the financial year ended March 2025. The insurtech startup posted a net loss of INR 47.1 Cr in FY25 as against a profit of INR 7.4 Cr in the previous year despite a strong growth in its top line during the year under review.

The Mumbai-based startup's operating revenue jumped 33.6% to INR 674.5 Cr from INR 505 Cr in FY24.

However, its expenses soared, outpacing the rise in revenue. Total expenditure grew 45.7% to INR 723.6 Cr in FY25 from INR 496.7 Cr in the previous fiscal year.

The startup posted an EBITDA loss of INR 36.7 Cr in FY25 as against an EBITDA profit of INR 18.3 Cr in FY24. Consequently, EBITDA margin cont...