Newgen Software Q3 Profit Surges 31% to Rs 89 Cr
By Rediff Money Desk, New Delhi Jan 20, 2025 17:31
Newgen Software Technologies reported a 31% year-on-year increase in consolidated net profit to Rs 89 crore for the December quarter, driven by strong growth in banking, financial services, and government verticals. Revenue also rose 17.7% year-on-year.
New Delhi, Jan 20 (PTI) Tech firm Newgen Software Technologies on Monday posted a 30.8 per cent year-on-year increase in consolidated net profit to Rs 89 crore for the December quarter.
The Noida-headquartered firm reported a profit of Rs 68 crore in the year-ago period, according to a regulatory filing.
Revenue from operations for the quarter under review came in at Rs 381 crore, a 17.7 per cent uptick from Rs 323.6 crore in the year-ago period.
Sequentially, profit and revenue were up 27 per cent and 5.54 per cent, respectively.
"We witnessed strong growth in banking & financial services and government verticals during the quarter. We are also entrenching deeper in the insurance & healthcare verticals across markets," Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies, said.
Shares of Newgen Software Technologies settled at Rs 1,575 apiece on the BSE on Monday, 0.66 per cent lower than the previous close.
The Noida-headquartered firm reported a profit of Rs 68 crore in the year-ago period, according to a regulatory filing.
Revenue from operations for the quarter under review came in at Rs 381 crore, a 17.7 per cent uptick from Rs 323.6 crore in the year-ago period.
Sequentially, profit and revenue were up 27 per cent and 5.54 per cent, respectively.
"We witnessed strong growth in banking & financial services and government verticals during the quarter. We are also entrenching deeper in the insurance & healthcare verticals across markets," Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies, said.
Shares of Newgen Software Technologies settled at Rs 1,575 apiece on the BSE on Monday, 0.66 per cent lower than the previous close.
Source: PTI
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