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Newgen Software Q3 Profit Surges 31% to Rs 89 Cr

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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.
Source: PTI
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