Go Digit shares surge over 6% after Q3 profit jumps 177% YoY to Rs 119 crore

Go Digit General Insurance shares surged 6.5% to an intraday high of Rs 305.05 on the BSE after the company reported a sharp 177% year-on-year (YoY) increase in net profit to Rs 119 crore for the December quarter. The rise was driven by strong growth in insurance premium collections.

The Bengaluru-based general insurer posted a gross written premium of Rs 2,676 crore during the quarter, compared to Rs 2,427 crore a year earlier. It had recorded a net profit of Rs 42.8 crore in the corresponding quarter of the previous year.

In a filing with the stock exchanges, the Fairfax-backed insurance company said it has elevated Atul Mehta to the position of country head for retail geographies and key partnerships. Mehta was the chief business officer at the key relationships group in his earlier role.


Commissions and brokerages to distribution partners amounted to about Rs 543 crore in the December quarter. Total income for the quarter stood at Rs 2,371 crore.

An insurance company collects premiums from customers but also pays premiums to reinsurance companies. It also generates additional income from the interest earned from its investments.

Go Digit reported overall expenses of Rs 2,308 crore in the December quarter, up from Rs 2,241 crore a year ago.

The general insurance company’s solvency ratio stayed at 2.2.

The company’s partner network stood at 69,527 at the end of calendar year 2024, and its overall assets under management stood at Rs 18,939 crore.

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While the share of business from health and travel insurance improved to 19% in 2024, motor insurance continued to be the mainstay of the business, with more than 60% share of total premium collected.

Go Digit still makes a large chunk of the business through its physical agent network. However, the company stated that 59% of its policies are now issued through direct technology integration with its partners, reflecting its focus on technology for insurance distribution.

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Go Digit shares performance:

On Wednesday, Go Digit shares closed at Rs 286.2, down 1.85% on the BSE, while the benchmark Sensex surged 0.75%. The stock has declined 18% over the past three months and 17% in the last six months. The company’s market capitalization stands at Rs 26,394 crore.

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