Go Digit's operating revenue down 17% this quarter: Key details
Go Digit General Insurance saw its operating revenue drop 17% this quarter, landing at ₹1,865 crore—down from last year's ₹2,247 crore.
Net premiums written also slipped a bit by 4%, but investment income actually climbed to ₹314 crore.
So, it was a mixed bag on the money front.
Underwriting loss swells to ₹194 crore
Expenses kept piling up: commissions and brokerage fees rose to ₹572 crore, employee costs went up too, and claims paid out jumped to ₹903 crore.
Even though outstanding claims fell a bit, all these pressures led to a bigger underwriting loss of ₹194 crore for the quarter.
Net profit jumps 46%
Here's the twist: despite all those challenges, Go Digit's net profit shot up 46% to ₹121 crore compared to last year.
The company's shares were trading at ₹349 with a market cap of over ₹32,000 crore—so investors seem pretty upbeat about where things are headed.