Go Digit Q1: Profit Zooms 37% YoY To INR 138 Cr

Insurtech company Go Digit General Insurance’s profit after tax (PAT) zoomed 37% to INR 138.3 Cr in the first quarter of FY26 from INR 101.3 Cr in the year-ago quarter. On a sequential basis, profit rose 20% from INR 115.6 Cr. 

The company’s gross written premium stood at INR 2,982 Cr during the quarter, up 12% from INR 2,660 Cr in Q1 FY25. Meanwhile, net premium written declined 4% YoY and 4% QoQ to INR 1,950.6 Cr during the quarter. Net premium earned for the quarter stood at INR 1,865 Cr, up 2% YoY and down 17% QoQ.

The company’s total income in Q1 FY26 stood at INR 2,179.5 Cr, up 5% from INR 2,076.9 Cr in the year-ago quarter. However, it declined 23% from INR 2,855.2 Cr in Q4 FY25. 

In line with the trends in its total income, total expenses grew 3% YoY and declined 15% QoQ to INR 2,058.6 Cr in Q1 FY26.

For the quarter, the insurtech company’s motor insurance offering continued to overshadow its other insurance offerings – fire, marine, health (retail) and health (corporate). 

For the motor segment, the company’s net premium earned (NPE) increased 9% YoY to INR 1,430 Cr. For corporate health insurance, the number slipped 22% YoY to INR 268.5 Cr. However, its NPE from marine insurance stood at a negative INR 3 Cr as against an NPE of INR 1.1 Cr in the year-ago quarter.

Meanwhile, the motor segment’s operating profit dipped 56% YoY to INR 37 Cr, while the operating profit for the fire insurance segment surged over 87% YoY to INR 42.4 Cr. 

Overall, Go Digit sold about 32 Lakh policies in the quarter, taking its total customer count to 7.1 Cr. The company claims to hold a 3.7% market share in the insurance industry and a 6.3% market share in the motor insurance space. 

While the company recorded meaningful growth in the quarter, it also managed to shed some of its tax troubles from the past. Earlier this month on July 4, Go Digit informed the bourses that the Bombay High Court has set aside a GST demand of INR 170.3 Cr against the company raised by the GST commissioner, Chennai South Commissionerate.

While disclosing its results for Q1 today, the insurtech major informed that it had voluntarily deposited about INR 7 Cr to the DGGI, Chennai in the quarter. The company incorporated the recognised tax and interest amount as an expense in its book for the Q4 FY25 and included a penalty of INR 83 Lakh in its statement for Q1 FY26.

Go Digit’s shares ended today’s trading session 1.26% lower at INR 343.90 on the BSE.