IT Consulting & Software company Newgen Software Technologies announced Q1FY24 results: Revenue from operations (consolidated) at Rs 251.7 crore as compared to Rs 187.9 crore in Q1FY23, up 34% YoY. Subscription revenues (ATS/AMC, cloud, and subscription license) were at Rs 88.6 crore, up 24% YoY. Total annuity revenue streams (ATS/AMC, support, cloud/SaaS, and subscription license) at Rs 167.8 crore, contributing 67% to revenues Stronger license growth quarter - Revenue from the sale of products/licenses was at Rs 42.1 crore, up 1.9 times YoY Profit after tax at Rs 30.2 crore up 57% from Rs 19.2 crore in Q1FY23. Net Cash from Operating activities at Rs 57.0 crore. 13 new customer logo additions in the quarter Broad-based growth across all regions. The APAC market witnessed a growth of 46%. EMEA, US, and India markets witnessed growth of 38%, 36%, and 25% respectively Speaking about the results, Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies said, “Continuing the strong momentum, Q1 witnessed robust growth across all geographies. The Company witnessed the highest quarterly YoY revenue growth rate. We are witnessing immense opportunities for digital journeys across the financial services sector as well as new requirements for automation at scale. The launch of the recent version of the NewgenONE platform further shows our commitment to this direction. We are embedding AI and generative AI capabilities in our platforms, redefining the future enterprise automation.” “During the quarter, we witnessed strong bookings from both - existing and new customers. We are working on building a long-term sustainable organization creating robust partner ecosystems, long term customer relationships, dependable supply chains, and a diverse employee base,” said Virender Jeet, CEO, Newgen Software. Result PDF
IT Consulting & Software company Newgen Software Technologies announced Q4FY23 & FY23 results: Q4FY23: Revenue from operations (consolidated) witnessed strong growth reaching Rs 305.1 crore as compared to Rs 231.4 crore in Q4FY22 (up 32% YoY) Subscription revenues (ATS/AMC and cloud/subscription license) were at Rs 87.5 crore, witnessing strong growth of 26% YoY Annuity revenue streams (ATS/AMC, support, and cloud/SaaS) was at Rs 166.2 crore Revenue from the sale of products/license was at Rs 59.5 crore Profit after tax stable at Rs 78.6 crore from Rs 57.4 crore in Q4FY22 FY23: Revenue from operations (consolidated) at Rs 974.0 crore as compared to Rs 779.0 crore in FY22, up 25% YoY Subscription revenues (ATS/AMC, cloud, and subscription license) were at Rs 322.7 crore, up 31% YoY; increasing the share of the cloud/subscription license business Total annuity revenue streams (ATS/AMC, support, cloud/SaaS, and subscription license) at Rs 594.5 crore, contributing 61% to revenues Revenue from the sale of products/licenses was at Rs 178.7 crore, up 11% YoY Profit after tax at Rs 176.3 crore from Rs 164.2 crore in FY22 Net Cash from Operating activities at Rs 136.6 crore Speaking about the results, Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies said – “In FY’23, Newgen has created new benchmarks for itself on the product as well as financial parameters. We crossed the milestone of Rs 1,000 crore of Total Income for the year. We have also been named as a Leader in the Forrester Wave™: Content Platforms Report. Our solutions today are driving deeper penetration into our customer base. We have been seeing an increasing trend of average ticket sizes per customer. We now have 51 customers with over Rs 5 crore annual billing” “We are happy to see enterprises optimizing their business operations, increasing productivity, and promoting collaboration by utilizing NewgenONE platform. Our Subscription revenues have witnessed a steady and robust growth of 31% YoY. We have large order booking indicating more assured revenues.” said Virender Jeet, CEO, Newgen Software. Result PDF