Newgen Software Technologies Ltd Share Price – NSE  /  BSE

IT - Software, Small Cap

Newgen Software Technologies will hold a meeting of the Board of Directors of the Company on 30 April 2024.

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Newgen Software Technologies Ltd fell 5% today to trade at Rs 694.95. The S&P BSE IT Sector index is down 1.6% to quote at 38081.28. The index is up 0.78 % over last one month. Among the other constituents of the index, Kellton Tech Solutions Ltd decreased 4.44% and Nucleus Software Exports Ltd lost 3.85% on the day. The S&P BSE IT Sector index went up 25.08 % over last one year compared to the 16.23% surge in benchmark SENSEX.

Newgen Software Technologies Ltd has lost 18.8% over last one month compared to 0.78% gain in S&P BSE IT Sector index and 3.26% drop in the SENSEX. On the BSE, 1767 shares were traded in the counter so far compared with average daily volumes of 24697 shares in the past one month. The stock hit a record high of Rs 900 on 17 Jan 2024. The stock hit a 52-week low of Rs 211.85 on 14 Feb 2023.

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As compared to Q3 FY23, the company's net profit and revenue jumped 44.47% and 26.96%, respectively.

The rise in the revenue was mainly driven by strong growth in banking and financial services across geographies.

Total annuity revenue streams (ATS/AMC, support, cloud/SaaS and subscription license) was at Rs 191 crore, with strong growth in support revenues. Subscription revenues (ATS/AMC, cloud and subscription license) were at Rs 96 crore. Revenue from implementation grew by 66% in Q3 YoY to reach Rs 69 crore.

Profit before tax stood at Rs 7,998.57 crore in Q3 FY24, recording a growth of 30.98% YoY and 36.5% QoQ.

EBITDA was at Rs 77 crore during the quarter (up 30.8% YoY and up 35.3% QoQ). EBITDA margin improved to 23.8% in Q3 FY24 as compared to 23.1% in Q3 FY23 and 19.4% posted in Q2 FY24.

Speaking about the results, Diwakar Nigam, chairman & managing director, Newgen Software Technologies said, “In the nine month period ending December 2023, Newgen has demonstrated strong growth in revenues led by India 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 FY’24.”

Newgen Software Technologies is the leading provider of a unified digital transformation platform with native process automation, content services, and communication management capabilities. Globally, successful enterprises rely on Newgen's industry-recognized low code application platform to develop and deploy complex, content-driven, and customer-engaging business applications on the cloud. From onboarding to service requests, lending to underwriting, and for many more use cases across industries.

The scrip hit an all-time high at Rs 898.60 in today’s intraday session.

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Net profit of Newgen Software Technologies rose 44.47% to Rs 68.35 crore in the quarter ended December 2023 as against Rs 47.31 crore during the previous quarter ended December 2022. Sales rose 26.96% to Rs 323.65 crore in the quarter ended December 2023 as against Rs 254.92 crore during the previous quarter ended December 2022.

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