{"id":28178,"date":"2024-07-22T13:31:00","date_gmt":"2024-07-22T13:31:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4466370_AE66370_0"},"modified":"2024-07-22T13:31:00","modified_gmt":"2024-07-22T13:31:00","slug":"newgen-software-reports-revenues-from-operations-at-rs-315-cr-in-q1-fy25-up-25-yoy","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=28178","title":{"rendered":"Newgen Software reports Revenues from operations at Rs 315 cr in Q1 FY’25, up 25% YoY"},"content":{"rendered":"
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Launch of Newgen LumYn \u2014 Gen AI powered hyper-personalization platform for banks<\/i><\/p>\n

NOIDA, India<\/span>, July 22, 2024<\/span> \/PRNewswire\/ — The management of Newgen Software Technologies Ltd. announced results for the quarter ended June 30, 2024<\/span> at its Board Meeting held on July 18, 2024<\/span>.<\/i><\/p>\n

Key Highlights- Q1 FY’25 v\/s Q1 FY’24<\/b><\/p>\n

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Revenues<\/b><\/u>
Rs  315 Cr
(25% YoY growth) <\/span><\/p>\n<\/td>\n

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Profit after Tax<\/u><\/b>
Rs 48 Cr
(58% YoY growth)<\/span><\/p>\n<\/td>\n

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New LogoWins<\/b><\/u>
13<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

Commenting on the Company’s performance, Mr. Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies Ltd., said, “As we start a new financial year, we are happy to close another robust performance quarter in terms of revenues and profits. The quarter registered 25% revenue growth, driven by strong business across all regions. We had good additions in our client portfolio and added 13 new logos in Q1. New business from our existing customer base also contributed significantly to our revenue growth, reaffirming our deep and long-term customer relationships and ability to deliver value to our customers.”<\/p>\n

“Our solutions in trade, lending, and supply chain finance have been getting good traction and market acceptance, helping businesses grow and manage their operations more efficiently. During the quarter, we also launched our new product, named Newgen LumYn, a Gen AI-powered hyper-personalization platform designed specifically for the banking sector,” said Mr. Virender Jeet<\/span>, CEO, Newgen Software.<\/p>\n

Key Consolidated Financial Highlights (Q1 FY’25)<\/b><\/p>\n

Revenue from operations (consolidated) witnessed a strong growth of 25% Q1 YoY, reaching Rs 315 crore<\/span><\/b> as compared to Rs 252 <\/b>crore in Q1 FY’24.<\/p>\n