Earnings Review
Go Digit PAT more than doubles, but operating profit falls
This story was originally published at 19:45 IST on 28 April 2025
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--Go Digit Jan-Mar net profit INR 1.16 bln vs INR 526.6 mln year ago
--Go Digit Jan-Mar total income INR 28.55 bln vs INR 26.93 bln year ago
--Go Digit FY25 net profit INR 4.25 bln vs INR 1.82 bln year ago
--Go Digit FY25 total income INR 94.80 bln vs INR 84.43 bln year ago
--Go Digit Jan-Mar gross premium written INR 25.76 bln vs INR 23.36 bln
--Go Digit Jan-Mar net premium written INR 20.34 bln vs INR 20.99 bln yr ago
--Go Digit: Solvency ratio at 2.24 times as on Mar 31
--Go Digit: Incurred claim ratio 76.5% as on Mar 31
--Go Digit: Combined ratio 111.3% as on Mar 31
--Go Digit: AUM at INR 197.03 bln as on Mar 31
By Ashna Mariam George
MUMBAI – Go Digit General Insurance Ltd.'s net profit for the March quarter more than doubled on year as the non-operating income from investments zoomed and expenses not related to the insurance business fell. The insurer's operating profit fell on year as expenses in the insurance business rose quicker than total income.
Go Digit's net profit for Jan-Mar rose 120% on year to INR 1.16 billion but was marginally down on a sequential basis. In the December quarter, the company had reported a net profit of INR 1.19 billion, nearly tripling on year.
The non-operating results were the star in the reporting quarter. Go Digit doubled its income from investments under this head to INR 636.20 million, while non-operating expenses fell over 20% on year to INR 3.77 billion.
The company's operating profit for the quarter fell over 13% on year to INR 4.29 billion, as expenditure increased over 10% to INR 24.26 billion. The total operating income was only up 6% on year at INR 28.55 billion. Hence, even a steep fall in the underwriting loss to INR 1.79 billion, from INR 2.16 billion a year ago, did not result in on-year growth in operating profit.
For the financial year 2024-25 (Apr-Mar), the insurance company's net profit rose over 133% to INR 4.25 billion. The total operating income for FY25 was INR 94.80 billion, up from INR 84.43 billion in FY24.
For the reporting quarter, Go Digit's gross written premium rose over 10% on year to INR 25.76 billion, while the net written premium was down 3.0% at INR 20.34 billion. The company's solvency ratio was 2.24 times on Mar. 31, marginally higher from Dec. 31 and up from 1.61 times a year ago.
The insurer's combined ratio for the March quarter was 111.3%, up from 108.1% in the previous quarter and 108.8% a year ago. The incurred claim ratio in the reporting quarter was 76.5%, higher than 72.9% in Oct-Dec and 72.2% a year ago.
The company's assets under management grew 25% on year to INR 197.03 billion as of Mar. 31, Go Digit said in a press release. The company announced the financial results after market hours. Ahead of the announcement, shares of the insurer ended Monday 3.5% higher at INR 309.15 on the National Stock Exchange. End
Edited by Rajeev Pai
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