Newgen Software Posts Rs 70.3 cr Profit in Q2 | Business News
Newgen Software Technologies reported a 47.19% YoY increase in consolidated net profit to Rs 70.33 crore in Q2 FY24, driven by strong performance across key markets.
New Delhi, Oct 15 (PTI) Newgen Software Technologies on Tuesday reported a 47.19 per cent year-on-year increase in consolidated net profit to Rs 70.33 crore in the September quarter.
It had posted a net profit of Rs 47.78 crore in the year-ago period.
Revenue for the second quarter of the current fiscal year came in at Rs 361.15 crore, 23.16 per cent higher than Rs 293.23 crore a year earlier.
"All our key markets have performed well during the quarter with APAC witnessing strong growth for two consecutive quarters now. While banking & financial services continue to be our core verticals, we saw increasing traction in the insurance and government segment in the quarter," Newgen Software CEO Virender Jeet said.
The Noida-headquartered company's employee count stands at nearly 4,400.
Shares of Newgen Software Technologies settled at Rs 1,298.45 apiece on the BSE on Tuesday, down 3.95 per cent from the previous close.
It had posted a net profit of Rs 47.78 crore in the year-ago period.
Revenue for the second quarter of the current fiscal year came in at Rs 361.15 crore, 23.16 per cent higher than Rs 293.23 crore a year earlier.
"All our key markets have performed well during the quarter with APAC witnessing strong growth for two consecutive quarters now. While banking & financial services continue to be our core verticals, we saw increasing traction in the insurance and government segment in the quarter," Newgen Software CEO Virender Jeet said.
The Noida-headquartered company's employee count stands at nearly 4,400.
Shares of Newgen Software Technologies settled at Rs 1,298.45 apiece on the BSE on Tuesday, down 3.95 per cent from the previous close.
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