For the December quarter of the current financial year, Dr Reddy’s Laboratories posted revenue of ₹8,358 crore and a net profit of ₹1,403 crore, according to its financial results. In the same period, Go Digit reported revenue of ₹2,676 crore and a net profit of ₹118 crore, with its profit after tax rising 176.46% year-on-year to ₹118.52 crore, per its quarterly earnings.
Dr Reddy’s Laboratories, founded in 1984, produces Active Pharmaceutical Ingredients (APIs), Custom Pharmaceutical Services (CPS), generics, biosimilars, and differentiated formulations, as detailed on its company profile. Established in 2017 by Kamesh Goyal, Go Digit provides non-life insurance options, including motor, health, travel, and property coverage.
In the December quarter, Go Digit’s gross written premium increased 10.24% year-on-year to ₹2,676.78 crore, while its net premium written rose 5.13% to ₹2,084.14 crore, based on its financial statement. By 31 December 2024, the insurer’s assets under management reached ₹18,939 crore.
This deal coincides with PB Fintech, the parent of Policybazaar, launching a healthcare services subsidiary, indicating deeper links between insurance and healthcare, per PB Fintech’s recent announcements. Go Digit, which listed on the stock market in May 2024, vies with competitors like Acko, ICICI Lombard, Bajaj Allianz, and Tata AIG, as noted in industry reports.
The insurance landscape is set for fiercer rivalry following Finance Minister Nirmala Sitharaman’s February 2025 budget speech, where she declared 100% FDI for insurers investing all premiums domestically, lifting the previous 74% limit.
