First-Ever Quarterly Profit Lifts Turtlemint Shares 11%; FY26 Revenue Rises 57%
Financial technology company Turtlemint Fintech Solutions shares were in demand on Monday, with the stock surging as much as 10.85% to hit an intraday high of Rs 150.65 apiece on the BSE after the company reported its first-ever profitable quarter and robust revenue growth for FY26.
At 9:45 am, the stock was trading 8.87% higher at Rs 147.95 per share. By comparison, the BSE Sensex was down 0.86% at 77,469.
The rally came after the company announced its financial results for the quarter and year ended March 31, 2026, reporting strong growth while achieving key profitability milestones.
Revenue from operations for the fourth quarter rose 42% year-on-year (YoY) to Rs 357.2 crore, while service earnings before interest, tax, depreciation (EBITDA) increased 60% to Rs 60.1 crore.
Turns Profitable For The First Time
The company posted its first-ever quarterly profit, with profit after tax of Rs 3.1 crore, compared with a loss of Rs 39.4 crore in the year-ago period. Adjusted EBITDA also turned positive at Rs 2.9 crore, against a loss of Rs 33.5 crore a year earlier.
For the full financial year, revenue from operations grew 57% to Rs 1,098.3 crore from Rs 700.3 crore in FY25. Service EBITDA rose 70% to Rs 141.6 crore, while adjusted EBITDA loss narrowed to Rs 105.5 crore from Rs 186.3 crore. The adjusted EBITDA margin improved to -10% from -27% a year ago, reflecting improved operating leverage.
What Did Management Say?
Commenting on the results, Dhirendra Mahyavanshi, chairperson, managing director and CEO, said the company's growth reflects the strength of its distribution platform and ecosystem.
"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. Today, more than 6.5 lakh digital partners, supported by partnerships with 46 insurers and a presence across 19,000-plus PIN codes, are helping make insurance more accessible to millions of Indians," he said.
Anand Prabhudesai, executive director and COO, said the company will continue investing in technology and artificial intelligence to strengthen its partner ecosystem and enhance customer experience.
"The business is in excellent shape, with strong momentum across our key growth drivers, and we remain focused on executing our long-term strategy to create sustainable value for all our stakeholders," he said.
The company ended FY26 with over 6.5 lakh digital partners, after adding 1.1 lakh during the year. Platform premium grew 31% to Rs 3,868 crore, while renewal revenue increased 51% to Rs 224 crore.
Headquartered in Mumbai, Turtlemint Fintech Solutions operates a technology-led distribution platform for insurance, loans, mutual funds and credit cards through its subsidiaries. Its digital ecosystem connects more than 6.5 lakh partners with financial product providers across 19,000-plus PIN codes in India.
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