Go Digit share price jumps 10% to hit all-time high level post strong Q4 results
₹53 crore for the quarter ending March 31, 2024, increasing 104% from ₹26 crore in the previous year. The gross written premium for the reporting quarter was ₹2,336 crore, an increase from ₹1,955 crore in Q4FY23.
This is an almost 19% increase year over year.On Wednesday's trade, Go Digit share price opened at ₹365 apiece on BSE, the stock touched an intraday high of ₹372.35 and an intraday low of ₹345.75 apiece.Also Read: HCL Technologies share price gains 3% on large deal with apoBank; Morgan Stanley maintains ‘Overweight’ callFor the full fiscal year, net profit was ₹182 crore, up from ₹36 crore in FY23, representing a 405% increase. Meanwhile, the gross written premium for the entire fiscal year was Rs 9,016 crore, compared to ₹7,243 crore in FY23.
The firm improved their revenue by 24.5% year over year.As of March 31, 2024, the company's asset under management amounted at ₹15,764 crore, up 24.4% from ₹12,668 crore on March 31, 2023. The combined ratio for FY 2023-24 was 108.7%, compared to 107.4% in FY 2022-23.
The combined ratio for Q4 FY24 is 108.8%, up from 102.6% in Q4 FY23.The firm is a digital full stack insurance company that uses technology to fuel what they consider to be a unique approach to product design, distribution, and customer experience for non-life insurance.Also Read: Sensex Today | Share Market Live Updates: Nifty at new high, Sensex up 500 pts led by heavyweightsThe firm provides vehicle insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, and other insurance products that consumers may tailor to their own requirements.Go Digit share price made a lukewarm debut on the bourses in May. Post its IPO, this is Go Digit first earnings.
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