Shares of Go Digit, which debuted on the stock exchanges last month, climbed by as much as 10.04% on Wednesday (June 12) to hit a fresh 52-week high of ₹372.35 per share.
At the time of reporting, shares of the insurance company were trading 3.2% higher at ₹341.55 apiece on the BSE.
This rise can be attributed to the strong performance of Go Digit in the March quarter of the financial year 2024 (Q4FY24).
In terms of financials, the Gross Written Premium Income for the financial year 2023-24 was ₹ 9,016 crore, marking a growth of 24.5% compared to ₹ 7,243 crores in the previous financial year.
In Q4 FY24, the Gross Written Premium stood at ₹ 2,336 crore, reflecting a growth of 19.5% over the ₹ 1,955 crore recorded in Q4 FY23.
The Premium Retention Ratio for the FY 2023-24 stood at 85.8%, up from 81.6% in FY 2022-23. For Q4 FY24, the ratio was 89.9%, compared to 88.3% in Q4 FY23.
Profit after tax for the FY 2023-24 was ₹ 182 crore, a significant increase from ₹ 36 crores in FY 2022-23.
Similarly, the Profit after tax for Q4 FY24 stood at ₹ 53 crore, compared to ₹ 26 crore in Q4 FY23.
The Asset Under Management as of March 31, 2024, stood at ₹ 15,764 crore, up 24.4% from ₹ 12,668 crore as of March 31, 2023.
Regarding the Combined Ratio, it stood at 108.7% for the FY 2023-24, up from 107.4% in FY 2022-23, with the impact of large losses and natural disasters contributing 1.0%.
In Q4 FY24, the Combined Ratio was 108.8%, compared to 102.6% in Q4 FY23.
At the time of reporting, shares of the insurance company were trading 3.2% higher at ₹341.55 apiece on the BSE.
This rise can be attributed to the strong performance of Go Digit in the March quarter of the financial year 2024 (Q4FY24).
In terms of financials, the Gross Written Premium Income for the financial year 2023-24 was ₹ 9,016 crore, marking a growth of 24.5% compared to ₹ 7,243 crores in the previous financial year.
In Q4 FY24, the Gross Written Premium stood at ₹ 2,336 crore, reflecting a growth of 19.5% over the ₹ 1,955 crore recorded in Q4 FY23.
The Premium Retention Ratio for the FY 2023-24 stood at 85.8%, up from 81.6% in FY 2022-23. For Q4 FY24, the ratio was 89.9%, compared to 88.3% in Q4 FY23.
Profit after tax for the FY 2023-24 was ₹ 182 crore, a significant increase from ₹ 36 crores in FY 2022-23.
Similarly, the Profit after tax for Q4 FY24 stood at ₹ 53 crore, compared to ₹ 26 crore in Q4 FY23.
The Asset Under Management as of March 31, 2024, stood at ₹ 15,764 crore, up 24.4% from ₹ 12,668 crore as of March 31, 2023.
Regarding the Combined Ratio, it stood at 108.7% for the FY 2023-24, up from 107.4% in FY 2022-23, with the impact of large losses and natural disasters contributing 1.0%.
In Q4 FY24, the Combined Ratio was 108.8%, compared to 102.6% in Q4 FY23.
First Published: Jun 12, 2024 1:22 PM IST
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