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Newgen Software Technologies Q3 Results: Profit rises 31% to Rs 89 crore
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.
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