Go Digit Q2 FY27 profit declines 31% to Rs 142 crore

Insurtech firm Go Digit reported a 31.1% year-on-year decline in net profit to Rs 142 crore in the July-September quarter of this financial year FY27 from Rs 207 crore in the corresponding quarter last fiscal year.

The company's insurance revenue increased 1.7% to Rs 2,720 crore during the September quarter from Rs 2,675 crore in Q2 FY26, according to filings with the stock exchanges.

Go Digit’s insurance service result declined 73.5% to Rs 43 crore during the quarter from Rs 162 crore in the year-ago period, reflecting higher insurance service expenses.

In Q2 2027, the company's gross written premium was at Rs 2,571 crore compared to Rs 2,667 crore in Q2 2026, a de-growth of 3.6%. Excluding health reinsurance inward and government health business, which it chose not to renew as pricing was unattractive, gross written premium was flat, it added.

The company's insurance service expenses increased 22.4% to Rs 2,608 crore in Q2 FY27 from Rs 2,131 crore in the corresponding quarter last year. Claims expenses rose to Rs 1,698 crore from Rs 1,289 crore, while acquisition costs increased to Rs 720 crore from Rs 658 crore.

Meanwhile, investment income increased 20.3% to Rs 368 crore from Rs 306 crore in Q2 FY26.

The company's solvency ratio was at 2.40x as at September 30, 2026 as against 2.42x as at March 31, 2026, higher than the minimum regulatory requirement of 1.50x, it added.

For the first half of FY27, Go Digit's net profit declined 3.2% to Rs 521 crore from Rs 538 crore in H1 FY26, while insurance revenue grew 4.5% to Rs 5,386 crore from Rs 5,152 crore.

Founded in 2016 by Kamesh Goyal. The Pune-based insurer is backed by Fairfax Financial Holdings, led by Prem Watsa, and offers motor, health, travel and other general insurance products. The company went public in May 2024, with its shares listed on the NSE and BSE on May 23, 2024.

Last month, Fairfax was selected as the strategic buyer to acquire a 60.72% combined stake in IDBI Bank. As part of the transaction, the Canada-based company has also announced a major strategic plan to combine its stakes in Go Digit and IIFL Capital Services as subsidiaries under IDBI Bank.