Shares of insurance distribution platform Turtlemint surged more than 10% on Monday after the company said it expects to turn profitable for the full financial year FY27, led by the rapid growth of its policy renewal business. The stock rose to an intraday high of Rs 154.30 on the BSE, taking it close to its 52-week high, after the comments were reported byThe Economic Times. According to the ET report, Turtlemint's renewal book has emerged as a key growth driver, generating recurring revenue and improving the company's operating leverage. Founder and CEO Dhirendra Mahyavanshi said the company is on track to deliver its first full year of profitability in FY27 as renewals contribute a larger share of its business. The positive outlook comes days after the company reported itsfirst-ever profitable quarter in Q4 FY26. Turtlemint posted a net profit of Rs 3.1 crore in the March quarter, compared to a loss of Rs 39.4 crore a year earlier, while operating revenue grew 42% year-on-year toRs 357.2 crore. The turnaround was supported by higher renewal income, improved operating efficiency and a deferred tax credit. Founded in 2015 by Dhirendra Mahyavanshi and Anand Prabhudesai, Turtlemint operates a technology-led insurance distribution platform through a network of Point of Sale Persons (PoSPs), enabling customers to buy and renew health, life and motor insurance policies across the country. Backed by Peak XV Partners and Nexus Venture Partners, the company was listed on the stock exchanges in June. After a weak market debut, the stock has recovered sharply, with investors responding positively to its improving profitability and confidence in delivering sustainable earnings. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
