Go Digit General Insurance has posted a robust performance for the second quarter of fiscal year 2025, with a significant year-on-year (YoY) increase in profit. The company’s profit surged by 223% YoY, reaching ₹89.47 crores compared to ₹27.69 crores in the same quarter last year. However, on a quarter-on-quarter (QoQ) basis, profit saw a decline of 12%, down from ₹101.34 crores in the previous quarter.
Key Operating Results:
- Gross Premiums Written: ₹2,36,857 lakhs (₹2,368.57 crores) for Q2 FY25, compared to ₹2,66,041 lakhs (₹2,660.41 crores) in the previous quarter and ₹2,07,384 lakhs (₹2,073.84 crores) in Q2 FY24.
- Net Premium Written: ₹1,92,785 lakhs (₹1,927.85 crores) in Q2 FY25, slightly down from ₹2,02,681 lakhs (₹2,026.81 crores) in Q1 FY25 but up from ₹1,82,161 lakhs (₹1,821.61 crores) in Q2 FY24.
- Premium Earned (Net): ₹1,89,122 lakhs (₹1,891.22 crores) for Q2 FY25, showing an improvement from ₹1,82,373 lakhs (₹1,823.73 crores) in Q1 FY25 and ₹1,65,721 lakhs (₹1,657.21 crores) in the same period last year.
This strong YoY growth in gross premiums and net premiums demonstrates Go Digit’s ability to expand its market presence, although the quarter-on-quarter declines in gross premiums reflect a challenging quarter. The company’s improved profitability year-on-year has been supported by an increase in net premiums earned.
