New Delhi, India – January 20, 2025
The management of Newgen Software Technologies Ltd. announced results for the quarter ended December 31, 2024 at its Board Meeting held on January 20, 2025.
Commenting on the Company’s performance, Mr. Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies Ltd. said – “We continue to solidify our business and cultivate our customer relationships during the quarter. License revenues have grown by 70% YoY during Q3 with good deal velocity and several significant deal closures. 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. We have been recognized in the Gartner® Magic Quadrant™ for Enterprise Low-Code Application Platforms fifth time in a row. We believe, this is a testament to our unwavering commitment to innovation and excellence.”
“We are happy to share with immense pride and satisfaction that Newgen has been certified as a Great Place to Work by the Great Place to work institute in December 2024. We are committed to create a high trust high performance culture at Newgen as we scale up” said Mr. Virender Jeet, CEO, Newgen Software.
| Key Consolidated Financial Highlights (Q3 FY’25)
Revenue from operations (consolidated) witnessed growth of 18% Q3 YoY, reaching Rs 381 crore as compared to Rs 324 crore in Q3 FY’24. License sales up by 70% Q3 YoY due to good deal velocity.
Profit after tax stood at Rs 89 crore during the quarter, up 30% YoY compared to Rs 68 crore in Q3 FY’24. |
| Key Consolidated Financial Highlights (9M FY’25)
Revenue from operations (consolidated) witnessed growth of 22% 9M FY’25 YoY, reaching Rs 1057 crore as compared to Rs 869 crore in 9M FY’24.
Profit after tax stood at Rs 207 crore during 9M FY’25, up 41% YoY compared to Rs 146 crore in 9M FY’24. |
| Key Business Highlights (Q3 FY’25)
Significant deal closures include:
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Key Business Highlights (Q3 FY’25)
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*https://newgensoft.com/company/recognition/
Newgen is the leading provider of AI enabled 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. Newgen unlocks simple with speed and agility.
For more details, visit www.newgensoft.com
| Media Contact: | Investor Contact: |
| Runki Goswami runki.goswami@newgensoft.com |
Deepti Mehra Chugh deepti.chugh@newgensoft.com |
Disclaimer
This press release may contain certain forward-looking statements concerning Newgen Software Technologies’ future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth and new business opportunities, competition (both domestic and international), economic growth in India and the target countries for business, ability to attract and retain highly skilled professionals, time and cost over runs on projects, our ability to manage our international operations, government policies, interest and other fiscal costs generally prevailing in the economy. Past performance may not be indicative of future performance. The company does not undertake to make any announcement in case any of these forward-looking statements become materially incorrect in future or update any forward looking statements made from time to time by or on behalf of the company.
