Mumbai, Aug. 17 -- Net sales increased 39.71% year on year to Rs 294.08 crore during the quarter.

Negative EBITDA improved to Rs 31 crore in Q1 FY27 from negative EBITDA of Rs 42 crore in the year-ago quarter.

Platform premium rose 49.8% year on year to Rs 1,205 crore in Q1 FY27 from Rs 804 crore in Q1 FY26. Platform premium refers to the total premium and consideration received on insurance policies issued or re-issued by insurers through Turtlemint's platform.

Renewal revenue increased 66% during the quarter, indicating continued customer retention on the platform. The company also reported an improvement in operating leverage, with corporate overheads as a percentage of revenue declining to 22% in Q1 FY27 from 30% in Q1 FY26.

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