IT Consulting & Software company Newgen Software Technologies announced Q1FY25 results: Financial Highlights: Revenue from operations (consolidated) witnessed a strong growth of 25% Q1 YoY, reaching Rs 315 crore as compared to Rs 252 crore in Q1FY24. Annuity revenue streams (ATS/AMC, support, and cloud/SaaS and Subscription license) were at Rs 201 crore Revenue from the sale of products/license were at Rs 45 crore Revenue from Implementation and others were at Rs 68 crore Profit after tax stood at Rs 48 crore during the quarter, up 58% YoY compared to Rs 30 crore in Q1FY24. Business Highlights: 13 new customer logo additions during the quarter. Newgen recognized in Gartner Market Guide for State and Local Government Grant Management Solutions Company has been reaffirmed the short-term rating of CRISIL A1 for its debt instruments. Launch of new product named Newgen LumYn - a Gen AI-powered hyper-personalization platform designed specifically for the banking sector Commenting on the Company’s performance, Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies said – “As we start a new financial year, we are happy to close another robust performance quarter in terms of revenues and profits. The quarter registered 25% revenue growth driven by strong business across all regions. We had good additions in our client portfolio and added 13 new logos in Q1. New business from our existing customer base also contributed significantly to our revenue growth reaffirming our deep and long-term customer relationships and ability to deliver value to our customers.” Virender Jeet, CEO, Newgen Software, said: “Our solutions in trade, lending, and supply chain finance have been getting good traction and market acceptance, helping businesses grow and manage their operations more efficiently. During the quarter, we also launched our new product named - Newgen LumYn, a Gen AI-powered hyper-personalization platform designed specifically for the banking sector.” Result PDF
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.