October 2024 marks a significant financial results season in India, as many companies report their earnings for the second quarter of the fiscal year 2024-25. This period is crucial for investors and analysts, offering insights into the economic health and performance of various sectors.
Here are two companies that have witnessed fluctuations in the share prices after announcing positive financial performance for Q2 FY25, through the latest filings with the stock exchanges on Thursday post-market hours:
Go Digit General Insurance Limited
With a market cap of Rs. 29,897 crores, the shares of one of the leading digital full-stack insurance companies surged 3.3 percent to hit an intraday high at Rs. 351 on BSE, during the trading session of Friday.
For Q2 FY25, Go Digit reported revenue from operations of Rs. 2,234 crores, reflecting a significant growth of around 6.2 percent QoQ from Rs. 2,105 crores in Q1 FY25, as well as a growth of about 17.3 percent YoY from Rs. 1,905 crores in Q2 FY24.
Likewise, the company’s net profit for Q2 FY25 increased to Rs. 89 crores, representing a growth of around 218 percent YoY from Rs. 28 crores in Q1 FY25, but a quarter-on-quarter decline of nearly 12 percent from Rs. 101 crores in Q2 FY24.
In Q2 FY25, the Gross Written Premium of the company stood at Rs. 2,369 crores compared to Rs. 2,074 crores in Q2 FY24, achieving a growth of 14 percent, while the Premium Retention Ratio for Q2 FY25 is 81.4 percent, as compared to 87.8 percent in Q2 FY24.
In Q2 FY25, the company reported a Gross Written Premium of Rs. 2,369 crores, reflecting a 14 percent increase from Rs. 2,074 crores in Q2 FY24. The Premium Retention Ratio for Q2 FY25 is 81.4 percent, down from 87.8 percent in Q2 FY24.
As of 30th September, Go Digit’s Assets Under Management (AUM) totalled Rs. 18,502 crores, up 17.4 percent from Rs. 15,764 crores as of 31st March.
Established in December 2016, Go Digit General Insurance Limited, formerly known as Oben General Insurance Limited, is engaged in providing various insurance products such as motor, health, travel, property, marine, liability, and more, tailored to customers’ preferences.
NACL Industries Limited
With a market cap of Rs. 1,076.3 crores, this chemical stock surged nearly 8 percent to hit an intraday high at Rs. 57 on BSE, during the trading session of Friday.
For Q2 FY25, NACL Industries reported revenue from operations of Rs. 440 crores, reflecting a significant growth of around 35.4 percent QoQ from Rs. 325 crores in Q1 FY25, but a decline of about 24.2 percent YoY from Rs. 580 crores in Q2 FY24.
Likewise, the company’s net profit for Q2 FY25 increased to Rs. 15 crores, from a loss of Rs. 21 crores in Q1 FY25, as well as a year-on-year rise of nearly 275 percent from Rs. 4 crores in Q2 FY24.
The stock has delivered negative returns of nearly 29 percent in the last one year, as well as around 30 percent returns YTD.
NACL Industries Limited is engaged in the business of crop protection and manufactures both Technicals (Active Ingredients) and Formulations, along with manufacturing a wide range of pesticides, insecticides, acaricides, herbicides, fungicides and other plant growth chemicals.
Written by Shivani Singh
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