IT Consulting & Software company Newgen Software Technologies announced consolidated Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Profit After Tax: Rs 105 crore, showcasing a 32% upwards change from Q4FY23. Operating Revenue: Reported at Rs 375 crore, a 23% rise from Q4FY23. Annuity Revenues: Rs 212 crore with substantial growth in support revenues. Product Sales Revenue: Increased by 24% YoY to Rs 74 crore. FY24 Financial Highlights: Total Income: Rs 1,292 crore, marking a 28% YoY growth. Profit After Tax: Rs 252 crore, representing a significant 42% increase from FY23. Revenue from Operations: Reached Rs 1,244 crore, indicating a growth of 28% YoY. Annuity Revenue Streams: Accounted for Rs 750 crore which includes ATS/AMC, support, and cloud/SaaS and Subscription license. Product Sales Revenue: Amounted to Rs 222 crore. Implementation and Other Services: Generated Rs 272 crore. Commenting on the Company’s performance, Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies said, “We are delighted to close another good growth year in terms of revenues and profits with strong growth in India and EMEA markets. Our large customer base has been increasing, leading to strong growth in revenue per customer. For the quarter, we have registered our highest ever quarterly revenue at Rs 375 crore in Q4FY24. Profit after tax crossed Rs 100 crore for the first time in a quarter.” Virender Jeet, CEO, Newgen Software said, “Our commitment to innovation and delivering value to our customers remains steadfast. During the year, we worked constantly on refining and expanding the capabilities of our platforms and solutions. We have successfully rolled out several new versions, with enhanced features, improved design and deployment journeys, enhanced AI/ML capabilities, improved security, and user-centric upgrades. We have increased revenues from existing customers as well as added 51 new logos in FY24.” Result PDF
Conference Call with Newgen Software Technologies Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript.
IT Consulting & Software company Newgen Software Technologies announced Q3FY24 & 9MFY24 results: Q3FY24 Financial Highlights: Revenue from operations (consolidated) at Rs 324 crore as compared to Rs 255 crore in Q3FY23, up 27% Q3 YoY driven by strong growth in banking and financial services across geographies. Total annuity revenue streams (ATS/AMC, support, cloud/SaaS, and subscription license) 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% Q3 YoY to reach Rs 69 crore. Profit after tax at Rs 68 crore up 45% from Rs 47 crore in Q3FY23 9MFY24 Financial Highlights: Revenue from operations (consolidated) witnessed a strong growth at Rs 869 crore as compared to Rs 669 crore in 9MFY23 (up 30% YoY). Profit after tax stood at Rs 146 crore in the first nine months of the year, up 51% YoY compared to Rs 97 crore in 9MFY23. Net Cash from Operating activities at Rs 193 crore for 9MFY24. Speaking about the results, Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies, said, “In the nine months 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 9MFY24”. “We are extremely delighted with the response our products are getting from customers across different geographies. We continue to innovate and drive over products through AI-led capabilities. With the launch of NewgenONE Marvin, we are excited to bring generative AI capabilities to our customers. NewgenONE Marvin is set to further accelerate low code capabilities with faster and smarter application development, and automation of customer journeys as well as help in building better customer engagement frameworks.” said Virender Jeet, CEO, Newgen Software. Result PDF