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Go Digit’s revenue falls in Q1 FY25 but profit spikes 90%

EntrackrEntrackr · 12m ago
Go Digit’s revenue falls in Q1 FY25 but profit spikes 90%
Medial

Go Digit General Insurance’s revenue from operations (net premium) decreased 8% to Rs 1,824 crore in Q1 FY25 from Rs 1,982 crore in Q4 FY24. However, its gross premium stood at Rs 2,660 crore in the first quarter of the ongoing fiscal year. The Bengaluru-based company also demonstrated strong financial standing during the previous fiscal year ending March 2024, marking a 37.4% year-on-year growth to Rs 7,096 crore (net premium) with its profits ballooning over 5X to Rs 182 crore during the last fiscal year Besides the operational income, Go Digit also made Rs 253 crore from its investments, tallying its overall revenue q Rs 2,077 crore in Q1 FY25 from Rs 2,692 crore in Q4 FY24. For the general insurance firm, the claims paid were naturally the largest cost center forming 64.48% of the overall expenditure. Akin to its scale, this cost decreased by 10% to Rs 1,285 crore in Q1FY25. The firm’s spending on commission, employee benefits, business development, sales promotion, and other overheads took its overall expense to Rs 1,993 crore in Q1 FY25 from Rs 2,198 crore in Q4 FY25. Despite a slight decrease in scale, Go Digit managed to control its costs by 9.3% QoQ, leading to a significant profit increase. Their profits rose by 90.6%, to Rs 101 crore in Q1FY25 from Rs 53 crore in Q4FY24. Sequentially, the firm posted 5X growth in profits during FY24. Go Digit General Insurance’s IPO was valued at Rs 2,616 crore, comprising a fresh issue of Rs 1,250 crore and the remainder offered for sale. The company debuted on the stock exchange on May 23 this year with a share price of Rs 286, marking a 5.1% gain compared to their price band of Rs 258-272 per share. GoDgit’s share price is currently trading at Rs 349.5 (as of 12.13 PM), According to Entrackr’s estimates, its total market capitalization stood at Rs 32,077 crore or $3.86 billion.

Ola Electric's two-wheeler market share falls to 27% in September

EntrackrEntrackr · 9m ago
Ola Electric's two-wheeler market share falls to 27% in September
Medial

Ola Electric, an electric two-wheeler manufacturer, has seen a decline in its market share over the past three months. The Bengaluru-based company’s market share dropped to 27% in September, down from 32% in August and 39% in the previous month. Ola Electric achieved its highest market share during Q1 FY25 (June quarter), reaching a milestone of 49%. As per Vahan data, Ola Electric sold 23,965 units in September compared to 26,928 units in August and 40, 814 units in July. The Bhavish Aggarwal-led firm also hit an 11-month low of 23,965 units. Baja Auto, TVS Motors, Ather Energy and Hero MotoCorp were the next on the list with 21.27%, 20.26%, 14% and 5% market shares, respectively. This drop in market share follows a report from Goldman Sachs, which projected that Ola Electric is expected to reach EBITDA breakeven by the fiscal year ending March 2027. The decline in sales can be attributed to several factors, including customer complaints, malfunctioning hardware, and software glitches, among others. According to a recent report, Ola Electric received approximately 80,000 customer complaints per month. For the June quarter (Q1FY25), Ola Electric’s revenue from operations grew only 2.8% to Rs 1,644 crore in Q1 FY25 from Rs 1,598 crore in Q4 FY24. The company, however, managed to control its losses by 16.6% to Rs 347 crore in Q1 FY25. During the last fiscal year (FY24), it reported Rs 5,010 crore revenue and Rs 1,584 core loss. Ola Electric, which was listed on the stock exchange in early August, saw its share price drop below Rs 100 on Monday for the first time since its listing. Currently, its shares are trading at around Rs 102 each. The initial public offering (IPO) was priced at Rs 76 per share.

OYO adds 3,500 corporate clients in FY25, records 20% YOY growth

EntrackrEntrackr · 2m ago
OYO adds 3,500 corporate clients in FY25, records 20% YOY growth
Medial

Hospitality firm OYO has announced that its business accelerator division added over 3,500 new corporate clients in FY25, marking a 20% year-on-year growth in its corporate portfolio. According to OYO, it now has a network of more than 6,500 corporate clients with this addition. Mumbai emerged as the top-performing market, adding over 700 new corporate clients in the past year, followed by Hyderabad with 400 and Pune with 350. Other major metro cities, including Chennai and Bangalore, also played a key role in the surge in corporate accounts. Some of the key brands added in FY25 include SBI Life, Cult.fit, and Sun TV Direct, further strengthening OYO’s presence among large enterprises and pan-India organisations. This business vertical caters to the travel and accommodation needs of corporate clients, offering smooth check-ins at more than 1,100 conveniently located, company-serviced hotels in over 300 cities, tailored meal options, conference facilities, event management support, and customised holiday packages. With a pipeline of potential partnerships and continued focus on innovation in corporate travel, OYO aims to accelerate its expansion with a focus on premium brands such as SUNDAY, Palette, Clubhouse Townhouse, Townhouse O, and Collection O. According to market research, India has emerged as the fourth-largest business travel market in the Asia-Pacific region. OYO offers more than 40 integrated products and solutions to patrons who operate over 170,000 hotel and home storefronts in more than 35 countries, including India, Europe, and Southeast Asia.

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