Newgen Software Technologies is a global software company that develops end-to-end software solutions. They offer a platform that allows organizations to quickly develop applications that meet their business needs.
Newgen Software Technologies include:
Workflow automation
Document management
Imaging
Process automation
Content services
Communication management
AI/ML capabilities
Enterprise content management (ECM)
Business process management (BPM)
Customer communications management (CCM)
Document Management System (DMS)
One of the top suppliers of a unified platform for digital transformation is Newgen Software Technologies. They are an established player in the market of ECM, BPM, and CCM.
The company’s (Newgen Software Technologies) operating revenue in Q2-FY24 increased by 29.7% to Rs 293.23 crore from Rs 226.11 crore in the same period last year. Earnings before interest, taxes, depreciation, and amortisation (Ebitda) increased by 59.3% on an annual basis to Rs 57.2 crore.
Meanwhile, margins increased by 290 basis points to 19.5%. Leading supplier of an integrated digital transformation platform with native automation of processes, communication management, content services, and AI/ML capabilities is Newgen. According to Newgen, it added the logos of 14 new clients throughout the quarter.
The recent order win of Rs 68 crore from a prominent public sector bank in India for the construction and maintenance of their whole digital business platform was described as a significant milestone. According to the statement, this is Newgen’s largest order to date in terms of value.
Crisil Ratings predicted that over the medium term, the company’s concentration on larger customers with bigger transaction sizes, ongoing product development and innovation, and expanding international sales in new countries will result in further revenue growth. The grading agency provided justification for its decision by saying that the company’s clientele and geographic reach should remain diverse.
Newgen’s net profit was up 58 percent at Rs 47.8 crore versus Rs 30 crore quarter on quarter as well as year on year.
In comparison to the previous quarter and the previous year, the company’s net profit increased by 58% to Rs 47.8 crore from Rs 30 crore. At Rs 293.2 crore as opposed to Rs 251.7 crore, the income increased 16.5 percent on a quarterly basis and 30 percent on an annual basis.
On October 17, Newgen Software Technologies’ shares saw a gain of more than 12 percent following the release of the company’s highly improved September quarter financial figures.
The stock was up 12.10 percent at Rs 1044 as of 2:00 pm.
The amount of revenue made in the Indian market increased to Rs 92.89 crore from Rs 67.36 crore in the previous year. The same from the Middle East and Europe came in at Rs 99.41 crore, up from Rs 73.96 crore. Revenue from the US was Rs 66.96 crore as opposed to Rs 51.53 crore, while revenue from Asia Pacific remained flat at Rs 33.97 crore.