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Shares of Turtlemint jumped more than 13.5% on the BSE today to touch an intraday high of ₹154.20, after the recently listed company reported its maiden profitable quarter in Q4 FY26 on Friday.

The stock later pared some gains due to profit booking, trading 6.3% higher at ₹144.50 at 14:19 PM IST. Its market capitalisation stood at ₹4,255.2 Cr ($441.7 Mn) at the time.

In Q4, the company reported a consolidated net profit of ₹3.1 Cr against a loss of ₹39.4 Cr in the same quarter previous year and a loss of ₹62.2 Cr in the preceding December quarter.

Operating revenue rose 42% YoY and 29% QoQ to ₹357.2 Cr in Q4 FY26. Including other income of ₹3.2 Cr, total revenue stood at ₹360.4 Cr. Total expenses increased 23% YoY to ₹365.6 Cr.

Although the quarter marked Turtlemint’s first-ever profit, the company benefited from a deferred tax credit of ₹8.3 Cr. Without the credit, it would have remained in the red, reporting a loss before tax of ₹5.2 Cr. 

However, the company turned adjusted EBITDA positive, reporting adjusted EBITDA of ₹2.9 Cr during the quarter.

Turtlemint listed on the BSE on June 29 at a 10% discount to its issue price. Its IPO comprised a fresh issue of ₹660.7 Cr and an offer for sale of 1.46 Cr shares. The issue was subscribed 1.2X.

Ahead of the IPO, the company had reported a 20% YoY rise in its net loss for the first nine months of FY26 to ₹187.3 Cr.

For the full fiscal year, Turtlemint narrowed its net loss by 5% to ₹184.3 Cr from ₹194.1 Cr in FY25. Operating revenue jumped 66% YoY to ₹1,098.2 Cr.

On the operational front, the company added more than 1.15 Lakh digital partners during FY26, taking its overall network to more than 6.59 Lakh. It expanded its presence to over 19,000 PIN codes, partnered with 46 insurers and issued 7.83 Mn policies during the year.

“As we continue to invest in technology and AI, our focus remains on empowering our partners, enhancing customer experiences, and building one of India’s most trusted digital insurance distribution platforms,” executive director and COO Anand Prabhudesai said.

Speaking after the quarterly earnings, CEO Dhirendra Mahyavanshi said that the company is likely to turn profitable on a full-year basis in FY27 on a growing renewal book and operating leverage.

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