Go Digit General Insurance reported a robust financial performance in Q2 FY25, with its profits soaring 3.2 times year-on-year(YoY) to Rs 89.47 crore. The company’s total income for the quarter reached Rs 2,175.49 crore, reflecting a 16.43 per cent increase compared to Rs 1,868.51 crore in the same period last year.
Despite the impressive growth in profits, Go Digit saw a rise in expenses as well, with total expenditures climbing to Rs 2,136.05 crore, up from Rs 1,876.54 crore in Q2 FY24.
Although profit after tax (PAT) for Q2 marked a sequential decline of 11.71 per cent from Rs 101.34 crore in Q1 FY25, it significantly outperformed the Rs 27.69 crore reported in Q2 FY24.
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The company’s motor insurance segment, its largest business contributor, posted premiums of Rs 1,354.21 crore, a 10.22 per cent increase from Rs 1,228.65 crore in Q2 FY24.
The health group and corporate insurance segment showed strong growth, with premiums rising by 25.24 per cent to Rs 332.45 crore, while the crop insurance segment witnessed the most significant jump, with premiums surging 48.86 per cent to Rs 117.14 crore from Rs 78.69 crore in the previous year.
