{"id":24552,"date":"2024-01-16T12:04:00","date_gmt":"2024-01-16T12:04:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4312683_AE12683_0"},"modified":"2024-01-16T12:04:00","modified_gmt":"2024-01-16T12:04:00","slug":"newgen-softwares-revenues-at-rs-869-cr-in-9m-fy24-up-30-yoy-profit-after-tax-at-rs-146-cr-up-51-yoy","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=24552","title":{"rendered":"Newgen Software’s Revenues at Rs 869 cr in 9M FY’24, up 30% YoY; Profit after Tax at Rs 146 cr, up 51% YoY"},"content":{"rendered":"
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NOIDA, India<\/span>, Jan. 16, 2024<\/span> \/PRNewswire\/ — The management of Newgen Software Technologies Ltd. announced results for the quarter ended December 31, 2023<\/span>, at its Board Meeting held on January 16, 2024<\/span>.<\/i><\/p>\n

Key Highlights- Q3 FY’24 v\/s Q3 FY’23<\/b><\/p>\n

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Revenue<\/b><\/u><\/span><\/p>\n<\/td>\n

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PAT<\/b><\/u><\/span><\/p>\n<\/td>\n

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New Logo Wins<\/u><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

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Rs 324 Cr<\/span><\/p>\n<\/td>\n

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Rs 68 Cr<\/span><\/p>\n<\/td>\n

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11<\/span><\/p>\n<\/td>\n<\/tr>\n

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(27% Q3 YoY growth)<\/span><\/p>\n<\/td>\n

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(45% Q3 YoY growth)<\/span><\/p>\n<\/td>\n

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Speaking about the results, Diwakar Nigam<\/span>, Chairman & Managing Director, Newgen Software Technologies Ltd. said, "In the nine-month period ending December 2023<\/span>, Newgen has demonstrated strong growth in revenues led by India<\/span> and EMEA. We are witnessing tremendous opportunities in the Lending and Trade Finance space. We have also maintained robust profitability and strong cash flow generation, highlighting the financial strength and resilience of our operations. Through our investments in innovation, people, and customer-centric approach, we have been nurturing and expanding our existing customer relationships, along with adding 38 new logos in 9M<\/span> FY’24."<\/p>\n

"We are extremely delighted with the response our products are getting from customers across different geographies. We continue to innovate and drive our products through AI-led capabilities. With the launch of NewgenONE Marvin, we are excited to bring generative AI capabilities to our customers. NewgenONE Marvin is set to further accelerate low code capabilities with faster and smarter application development, automation of customer journeys as well as help in building better customer engagement frameworks," said Virender Jeet, CEO, Newgen Software.<\/p>\n

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Key Consolidated Financial Highlights (9M FY’24)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

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Revenue from operations (consolidated) witnessed a strong growth at Rs 869 crore<\/b> as compared to Rs 669 <\/b>crore in 9M FY’23 (up 30% YoY).<\/span><\/p>\n<\/td>\n<\/tr>\n

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Profit after tax stood<\/b> at Rs 146 crore in the first nine months of the year, up 51% YoY compared to Rs 97 crore in 9M FY’23.<\/span><\/p>\n<\/td>\n<\/tr>\n

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Net Cash from Operating activities at Rs 193 crores<\/b> for the nine-month period ending December 31, 2023.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

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Key Consolidated Financial Highlights (Q3 FY’24) <\/b><\/span><\/p>\n

Revenue from operations (consolidated) at Rs 324 crores<\/b> as compared to Rs 255 crores in Q3 FY’23, up 27% Q3 YoY driven by strong growth in banking and financial services across geographies.<\/span><\/p>\n

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  • Total annuity revenue streams (ATS\/AMC, support, cloud\/SaaS and subscription license) at Rs 191 crores, with strong growth in Support revenues. Subscription revenues (ATS\/AMC, cloud and subscription license) were at Rs 96 crores.<\/li>\n
  • Revenue from implementation grew by 66% Q3 YoY to reach Rs 69 crores. <\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
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Profit after tax<\/b> at Rs 68 crores up 45% from Rs 47 crores in Q3 FY’23.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

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Key Business Highlights (Q3 FY’24) <\/b><\/span><\/p>\n