Newgen Software: Revenues at Rs 252 cr, up 34% Q1 YoY; Profit after Tax at Rs 30 cr, up 57% Q1 YoY

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New Delhi, India  July 20, 2023: The administration of Newgen Software Technologies Ltd. introduced outcomes for the quarter ended June 30, 2023, at its Board Meeting held on July 19, 2023.

Key Highlights- Q1 FY’24 

Total Income

Rs  264 Cr

(33% Q1 YoY development)

Profit after Tax

Rs 30 Cr

(57% Q1 YoY development)

Speaking concerning the outcomes, Diwakar Nigam, Chairman & Managing Director, of Newgen Software Technologies Ltd. mentioned – “Continuing the robust momentum, Q1 witnessed strong development throughout all geographies. The Company witnessed the best quarterly YoY income development fee.

We are witnessing immense alternatives for digital journeys throughout the monetary providers sector in addition to new necessities for automation at scale. The launch of the latest model of the NewgenONE platform additional exhibits our dedication in direction of this route. We are embedding AI and generative AI capabilities in our platforms, redefining the longer term enterprise automations.”

“During the quarter, we witnessed robust bookings from each – present and new prospects. We are engaged on constructing a long-term sustainable group creating strong associate ecosysytems, long-term buyer relationships, reliable provide chains, and a various worker base,” mentioned Virender Jeet, CEO, of Newgen Software.

Key Consolidated Financial Highlights (Q1 FY’24) 

Revenue from operations (consolidated) at Rs 251.7 crores as in comparison with Rs 187.9 crores in  Q1 FY’23, up 34% Q1 YoY.

·  Subscription revenues (ATS/AMC, cloud, and subscription license) have been at Rs 88.6 crores, up 24% Q1 YoY. Total annuity income streams (ATS/AMC, assist, cloud/SaaS, and subscription license) at Rs 167.8 crores, contributing 67% to revenues

·  (*30*) license development quarter – Revenue from the sale of merchandise/license have been at Rs 42.1 crores, up 1.9 occasions Q1 YoY

Profit after tax at Rs 30.2 crores up 57% from Rs 19.2 crores in Q1 FY’23.

Net Cash from Operating actions at Rs 57.0 crores.


Key Business Highlights (Q1 FY’24)

· 13 new buyer emblem additions within the quarter

·  Key buyer orders embody:

  •    Providing Digital account opening resolution for a privately held financial institution within the Americas area
  •   Providing Lending Origination and Management Solution to a number one diversified enterprise group in Saudi Arabia working throughout 7 core sectors
  •   Selected for Trade and Supply Chain Finance Solution to a number one monetary establishment within the UAE market

·   Broad-based development throughout all areas. APAC market witnessed a development of 46%. EMEA,  US, and India markets witnessed a development of 38%, 36%, and 25% respectively

Mansi Praharaj

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