However, the shares pared some gains to trade 11.5% lower at INR 319.15 as of 12:30 PM
The stock opened today’s trading session 4.85% higher at INR 300.10
The insurtech company’s net profit zoomed 176.46% to INR 118.52 Cr in the third quarter of the fiscal year 2024-25 (FY25) from INR 42.87 Cr in the year-ago period
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Shares of Go Digit surged as much as 12.28% to INR 321.35 during the intraday trading today (January 23) after the company announced its third quarter (Q3) results for the fiscal year 2024-25 (FY25).
However, the shares pared some gains to trade 11.5% lower at INR 319.15 as of 12:30 PM.
With today’s stock rally, the company’s market capitalisation stood at INR 29,433.44 Cr at the above-mentioned time, with 2.2 Cr shares traded by then.
The stock opened today’s trading session 4.85% higher at INR 300.10. Not to mention, the stock has an upper price circuit of INR 343.40. The stock’s 52-week high and low range is between INR 276.80 and INR 407.55. Earlier this month on January 13, the shares slumped to its 52-week low mark.
The insurtech company’s net profit zoomed 176.46% to INR 118.52 Cr in the third quarter of the fiscal year 2024-25 (FY25) from INR 42.87 Cr in the year-ago period on the back of strong growth in its revenue and a controlled rise in expenses.
On a sequential basis, the listed insurance giant’s profit surged 32.46% from INR 89.47 Cr.
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 company reported a 10.24% increase in gross written premium (GWP) to INR 2,676.78 Cr in the quarter ended December 2024 from INR 2,427.97 Cr in Q3 FY24. Net premium written also grew 5.13% to INR 2,084.14 Cr in Q3 FY25 from INR 1,982.39 Cr in the year-ago quarter.
The stock has given a negative return of 1.52% in the last month while it yielded a positive return of 5.44% over the last year.
Go Digit General was listed on the bourses in May last year, with a modest premium of 3.3% at INR 281 apiece on the Bombay Stock Exchange (BSE). Its shares have given a mere return of 1.8% since listing.
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