Turtlemint Fintech Solutions (TURTLEMINT) Q4 23/24 earnings summary

Executive summary

• FY24 revenue fell to ₹786.42 million from ₹4,199.17 million; loss before tax narrowed to ₹1,933.48 million from ₹2,881.83 million.

• Auditors issued an unmodified opinion and found internal financial controls adequate and operating effectively as of March 31, 2024.

Financial highlights

• Revenue from operations was ₹786.42 million vs ₹4,199.17 million; other income was ₹400.75 million vs ₹401.96 million.

• Total expenses were ₹3,124.05 million vs ₹7,482.95 million; loss before tax was ₹1,933.48 million vs ₹2,881.83 million.

• Operating cash flow was negative ₹2,416.67 million vs negative ₹2,850.16 million; cash and cash equivalents ended at ₹866.50 million vs ₹902.13 million.

Outlook and guidance

• The Board cited business plans incorporating budgeted growth, profitability and revenue, and assessed that obligations could be met for at least 12 months from the financial statement date.