Turtlemint turned profitable in the March quarter of FY26 (Q4 FY26), reporting a consolidated net profit of ₹3.1 Cr as against a loss of ₹39.4 Cr in the year-ago quarter
Operating revenue surged 42% YoY and 29% QoQ to ₹357.2 Cr. Including other income of ₹3.2 Cr, total revenue for the quarter stood at ₹360.4 Cr
For the full fiscal year FY26, Turtlemint managed to narrow its net loss by 5% to ₹184.3 Cr from ₹194.1 Cr in the previous year
Recently listed insurtech company Turtlemint turned profitable in the March quarter of FY26 (Q4 FY26), reporting a consolidated net profit of ₹3.1 Cr as against a loss of ₹39.4 Cr in the year-ago quarter.
The company had posted a loss of ₹62.2 Cr in the preceding December quarter.
Operating revenue surged 42% YoY and 29% QoQ to ₹357.2 Cr. Including other income of ₹3.2 Cr, total revenue for the quarter stood at ₹360.4 Cr.
Meanwhile, expenses for the quarter rose 23% YoY to ₹365.6 Cr.
Notably, Q4 FY26 was the first ever profitable quarter for the company. However, it is pertinent to note that the company had a deferred tax credit of ₹8.3 Cr during the quarter under review. If not for that, it would have reported a loss in Q4. Its profit before tax stood at ₹5.2 Cr for the quarter.
Turtlemint said it turned adjusted EBITDA positive in the quarter, reporting an adjusted EBITDA of ₹2.9 Cr.
“Our growth this quarter reflects the distribution strength of our platform and ecosystem. We are excited to begin our journey as a listed company, reflecting the strength of our business model and disciplined execution,” Turtlemint cofounder and CEO Dhirendra Mahyavanshi said.
Turtlemint made its public market debut on June 29, listing at a 10% discount to the issue price on the BSE. Its IPO comprised a fresh issue of ₹660.7 Cr and an OFS of 1.46 Cr shares. The public issue was oversubscribed 1.2X.
Ahead of the IPO, Turtlemint reported a 20% YoY increase in its net loss for 9M FY26 to ₹187.3 Cr.
For the full fiscal year FY26, Turtlemint managed to narrow its net loss by 5% to ₹184.3 Cr from ₹194.1 Cr in the previous year. Operating revenue zoomed 66% YoY to ₹1,098.2 Cr.
On the operational front, Turtlemint said it added over 1.15 Lakh digital partners in FY26, taking its network to more than 6.59 Lakh partners. The company also expanded its reach to over 19,000 pin codes and worked with 46 insurer partners, issuing 7.83 Mn policies during the year.
Shares of Turtlemint ended today’s trading session 1.77% lower at ₹135.90 on the BSE.
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