Newgen Software Technologies shares crack 17% post reporting Q3 results
Newgen Software Technologies slid by 17% to an intraday low of Rs 1294.6 on the BSE despite posting healthy Q3 numbers.
The company’s profit after tax (PAT) stood at Rs 89 crore during the third quarter ended December 2024, which was up 30% YoY compared to Rs 68 crore in Q3FY24. Further, the revenue from operations witnessed a growth of 18% YoY, reaching Rs 381 crore.
Meanwhile, for the nine months ended December 2024, Newgen Software posted a 41% YoY jump in its PAT at Rs 146 crore, while the revenue from operations for the said period was up by 22% on a year-on-year basis at Rs 1,057 crore.
The company experienced strong growth across all key markets in Q3 FY'25, with significant increases in APAC (44% YoY), EMEA (19% YoY), India (10% YoY), and the US (13% YoY), according to a media release published by the company, submitted to the exchanges.
For Q3FY25, the company’s key deal closures included a Rs 32 crore agreement with the Reserve Bank of India for a Regulatory Application Management System and a USD 2.3 million agreement (approximately Rs 19 crore) with a major power generation and transmission company in Saudi Arabia. Other notable deals include a Rs 24 crore agreement with Aye Finance for a Loan Origination Solution in India.
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