Turtlemint has seen a strong rise in its share price after reporting its first-ever quarterly profit. The insurtech company’s shares jumped more than 10% after it announced its Q4 FY26 financial results, showing that investors are gaining confidence in its business.
The company had a weak stock market debut just a few weeks ago, but its latest financial performance has changed the mood among investors. Better revenue, lower costs and a fast-growing insurance renewal business have helped Turtlemint move closer to profitability.
Turtlemint Reports First Quarterly Profit
Turtlemint reported a Profit After Tax (PAT) of ₹3.1 crore in the fourth quarter of FY26. In the same quarter last year, the company had posted a net loss of ₹39.4 crore. The profit was supported partly by a deferred tax credit, but the company also showed improvement in its overall business performance.
Revenue from operations increased 42% year-on-year to ₹357.2 crore during the quarter. The company’s Service EBITDA also grew 60% to ₹60.1 crore, showing better operating performance. At the same time, Adjusted EBITDA turned positive at ₹2.9 crore after recording a loss of ₹33.5 crore in Q4 FY25.
The company also delivered strong growth during the full financial year. Revenue from operations rose 57% to ₹1,098.3 crore in FY26 from ₹700.3 crore in FY25.
Although Turtlemint is still reporting an annual loss, the gap has reduced. The company’s consolidated net loss narrowed to ₹184.3 crore in FY26 compared to ₹202.6 crore in the previous financial year.
The company has also improved its cost management. Service EBITDA for the full year increased 70% to ₹141.6 crore. At the same time, corporate overheads came down from 38% of revenue to 23%, showing that the company is becoming more efficient as it grows.
Insurance Renewals Continue to Drive Growth
One of the biggest reasons behind Turtlemint’s better financial performance is its growing insurance renewal business. Renewing an existing insurance policy costs much less than finding a new customer, making it a more profitable part of the business.
During FY26, revenue from insurance renewals increased 51% to ₹224.6 crore. The company said its health insurance renewal rate is now above 88%. It has also started using AI-powered calling agents to help customers renew their policies more easily.
Turtlemint’s total platform premium also grew 31% year-on-year to ₹3,868 crore during FY26, showing steady growth in its insurance business.
The company has expanded into mutual funds and personal loans, but insurance remains its biggest business. Turtlemint currently manages around ₹1,300 crore to ₹1,400 crore in mutual fund assets. However, the company expects insurance distribution to contribute more than 95% of its total revenue over the next five years.
The strong quarterly results also had a positive impact on the stock market. After listing at a discount earlier this year, Turtlemint shares gained more than 10% in a single trading session after the earnings announcement. The stock touched an intraday high of ₹154.30 on the BSE.
IPO Journey and Plans for FY27
Turtlemint entered the stock market through an Initial Public Offering (IPO) worth ₹882.67 crore. The IPO included a fresh issue of ₹661 crore and an Offer for Sale (OFS) of ₹222 crore. The price band for the issue was fixed between ₹144 and ₹152 per share.
The IPO received moderate demand from investors. Qualified Institutional Buyers (QIBs) showed the strongest interest, while retail investors also subscribed to the issue. However, the Non-Institutional Investor (NII) category remained undersubscribed.
The company made its stock market debut on June 29, 2026, but the shares listed at an 11% discount to the issue price. Even with the weak listing, several early investors earned strong returns by selling part of their holdings. Hummingbird Ventures, Nexus Venture Partners and Peak XV Partners booked multi-fold gains, while the company’s co-founders also sold a small part of their stakes.
Looking ahead, Turtlemint is aiming to become profitable for the entire FY27 financial year. The company also plans to improve its margins over the next five years. It expects Service EBITDA margins to increase from around 13-14% to 24-25%, while Adjusted EBITDA margins are expected to reach 18-20%.
The company is also working to reduce corporate overheads to less than 6% of revenue over the next five years by improving technology and increasing scale.
With its first profitable quarter, steady revenue growth and a strong insurance renewal business, Turtlemint has taken an important step in its growth journey. The company still needs to deliver consistent annual profits, but its latest performance has increased investor confidence and made it one of the closely watched companies in India’s growing insurtech sector.