Go Digit shares rally 8% after PAT jumps 74% in June quarter

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Shares of Go Digit General Insurance rallied 8% on Friday to a day’s high of Rs 362.25 on the BSE after the company posted a 74% increase in net profit for the quarter ended June 30, 2024, at Rs 101 crore, compared to Rs 58 crore reported in the same period last year.

The gross written premium for the reported quarter was Rs 2,660 crore, marking a 22% increase over Rs 2,178 crore reported in the corresponding quarter of the previous financial year.


The assets under management for the April-June 2024 quarter were Rs 17,773 crore.

The company offers motor, health, travel, property, marine, liability, and other insurance products.


In its filing to the exchanges, the company stated that its overall market share was 3.6%, while its share in the motor insurance segment was 6% at the end of the reported quarter. The company has launched 80 active products since 2017.The company reported a PAT of Rs 53 crore for the fourth quarter, reflecting a 104% YoY increase, and a 19% YoY rise in its gross written premium for the same period.Go Digit was recently listed on the exchanges in May with a 5% gain over the issue price of Rs 272. Since then, the stock has risen by nearly 27%In the last month, the shares of Go Digit have gained 17.5%, while in the last 2 weeks, the stock has increased by approximately 11%.

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