SynopsisGross written premium during the quarter also fell 8.4% year-on-year to Rs 2,731 crore. “In a soft market we would rather protect the quality of the book than the optics of a single quarter,” the management said on the post-earnings call.New-age insurance startup Go Digit General Insurance recorded a 38% year-on-year dip in net profit to Rs 86.4 crore for the April-June quarter, as a higher loss ratio and the impact of Indian Accounting Standards (Ind AS) ate into its bottom line. Gross written premium during the quarter also fell 8.4% year-on-year to Rs 2,731 crore. “In a soft market we would rather protect the quality of the book than the optics of a single quarter,” theNow Playing
Go Digit net profit dips 38% in Q1, premium falls 8.4% - The Economic Times
Gross written premium during the quarter also fell 8.4% year-on-year to Rs 2,731 crore. “In a soft market we would rather protect the quality of the book than the optics of a single quarter,” the management said on the post-earnings call.
TL;DRAI
Go Digit's Q1 net profit fell 38% YoY to Rs 86.4 crore with gross written premium down 8.4% to Rs 2,731 crore amid higher loss ratios and Ind AS impact. The insurer prioritizes portfolio quality over short-term results in a softening market, signaling margin pressure in India's insurance sector.
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