Go Digit General Insurance Q2 profit surges 3.2x to Rs 89.47 Cr, total income up 16.4%
The motor insurance segment, which remains the largest contributor to Go Digit’s overall business, posted premiums of Rs 1,354.2 crore in Q2 FY25, a 10.2% increase from Rs 1,228.6 crore in Q2 FY24.
Go Digit General Insurance's Q2 FY25 profits surged 3.2x year-on-year to Rs 89.47 crore, with total income increasing by 16.43%.
The company reported a total income of Rs 2,175.49 crore for Q2 FY25, marking a 16.43% rise from Rs 1,868.51 crore in the same period last year.
However, the company also faced a jump in total expenses, amounting to Rs 2,136.05 crore in Q2 FY25, compared to Rs 1,876.54 crore for the same period last fiscal year.
The insurer posted a profit after tax (PAT) of Rs 89.47 crore for Q2 FY25, a sequential decline of 11.71% from Rs 101.34 crore in Q1, though it represented a significant 3.2X increase from the Rs 27.69 crore recorded in Q2 FY24.
The motor insurance segment, which remains the largest contributor to Go Digit’s overall business, posted premiums of Rs 1,354.21 crore in Q2 FY25, a 10.22% increase from Rs 1,228.65 crore in Q2 FY24.
The health group and corporate insurance segment delivered robust growth, with premiums reaching Rs 332.45 crore in Q2 FY25, up 25.24% from Rs 265.46 crore in Q2 FY24.
Go Digit’s crop insurance segment saw the most significant growth, with premiums jumping 48.86% to Rs 117.14 crore in Q2 FY25 from Rs 78.69 crore in Q2 FY24.
Edited by Jyoti Narayan