Go Digit General Insurance rose 1.15% to Rs 342.25 after the company's consolidated net profit surged to 53 crore in Q4 FY24 as compared with Rs 26 crore in corresponding quarter last year.
Revenue from operations jumped 71.98% YoY to Rs 2,692.50 crore in Q4 FY24.Gross written premium increased 19.49% to Rs 2,336 crore in the quarter ended 31 March 2024 as compared with Rs 1,955 crore in quarter ended 31 March 2023.
Asset Under Management (AUM) stood at Rs 15,764 crore in Q4 FY24, up 24.44% as compared with Rs 15,668 crore in Q4 FY23.
Premium Retention ratio for Q4 FY24 is 89.9%, as compared to 88.3% in Q4 FY23. While Combined ratio for Q4 FY24 was 108.8% as compared to 102.6% in Q4 FY23.
Go Digit General Insurance is a digital full stack non-life insurance company, leveraging technology for enhancing product design, distribution and customer experience. It offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, liability insurance and other insurance products.
The scrip entered into the stock market on 23 May 2024. The counter was listed at Rs 281.10, exhibiting a 3.35% premium to the issue price of Rs 272.
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