Go Digit Q4 Profit Zooms 120% YoY To INR 116 Cr

Insurtech company Go Digit General Insurance’s profit after tax (PAT) zoomed 119% to INR 115.6 Cr in the fourth quarter (Q4) of the fiscal year 2024-25 (FY25) from INR 52.7 Cr in the year-ago quarter on the back of healthy insurance premium collection.

However, profit declined 2.5% from INR 118.5 Cr on a quarter-on-quarter (QoQ) basis.

Founded in 2017 by Kamesh Goyal, Go Digit General Insurance is a full-stack digital insurance company. It offers a wide range of non-life insurance policies across sectors such as motor vehicle, health, travel, and property among others.

The Bengaluru-based new-age general insurance company clocked a gross written premium (GWP) of INR 2,576.4 Cr in the March quarter, up 10.3% from INR 2,335.9 Cr a year ago. However, its GWP slid 3.8% on a sequential basis from INR 2,676.8 Cr.

Meanwhile, net premium written declined 3.1% YoY and 9.3% QoQ to INR 2,033.8 Cr during the quarter.

The company’s total income stood at INR 2,855.2 Cr during the quarter under review, up 6% from INR 2,692.5 Cr in Q4 FY24.

For the full fiscal year, Go Digit reported a PAT of INR 425 Cr, a 133.5% jump from INR 182 Cr in the previous fiscal year.

For FY25, the company’s GWP stood at INR 10,282 Cr, up 14% from INR 9,016 Cr reported in FY24.

The premium retention ratio, which indicates the company’s ability to retain customers, fell to 78.9% in Q4 FY25 from 89.9% in the corresponding quarter last year.

In its FY25 investor presentation, the insurtech company said that its growing assets under management (AUM) base was leading to higher investment income.

The company’s partner network stood at 71,870 at the end of FY25 and its overall AUM stood at INR 19,703 Cr. 

Leveraging AI, ML To Sell Insurance

In a statement, Go Digit said it sold 1.2 Cr policies to 6.7 Cr customers in FY25, taking its market share in the insurance space to 3.3%.

The company said it has developed artificial intelligence and machine learning-driven bots in-house to automate repetitive tasks. These bots assist its distribution partners in real-time quote issuance, policy renewal, portfolio pricing, market intelligence, among others.

While Go Digit still makes a large chunk of its business through its physical agent network, the company said that 48.2% of its policies were issued via APIs in FY25. In all, the company issued 5.3 Cr policies via APIs as of March 2025.

Now, Go Digit Holds 6% Market Share In Motor Insurance Space

Third-party motor insurance continued to be the mainstay of Go Digit’s business. The company earned a net premium of INR 1,373.3 Cr by selling motor insurance in Q4 FY25, up nearly 5% from INR 1,311 Cr in the year-ago quarter. As of March 31, 2025, its market share in the motor insurance segment stood at 5.9%.

Health insurance was the second largest contributor to Go Digit’s revenue, with the company clocking a net premium of INR 436.3 Cr from this segment in the reported quarter, a near 10% jump from INR 397.9 Cr in Q4 FY24.

Its crop insurance premium stood at INR 312.2 Cr, fire insurance premium at INR 41.7 Cr and marine insurance premium at INR 6.19 Cr in the March quarter.

Zooming Into Expenses

In line with the growth in its top line, Go Digit reported a 10.4% rise in its overall expenses to INR 2,426.1 Cr during the quarter ended March 31, 2025, from INR 2,198.2 Cr in the same quarter last year. Sequentially, it rose 5.1% from INR 2,308.9 Cr.

Incurred Claims: The total expense under this head surged over 20% to INR 1,719.2 Cr in Q4 FY25 from INR 1,430.3 Cr in the same quarter last year.

Of this, the company spent INR 1,353.6 Cr towards insurance claims while it spent an additional INR 365.6 Cr on change in outstanding claims in the reported quarter.

Commission & Brokerage: Go Digit paid INR 598.3 Cr in commission and brokerage to its distributor partners in Q4 FY25, up 20% YoY and 10.2% QoQ.

Employee Cost: The listed insurtech giant spent INR 56.5 Cr on employees’ remuneration and welfare expenses in the March quarter, down 4.2% YoY and 34.4% QoQ.

Shares of Go Digit ended today’s trading session 3.4% higher at INR 308.8 apiece on the BSE.