Conference Call with Newgen Software Technologies Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Newgen Software Technologies announced Q3FY23 results: Q3FY23: Revenue from operations (consolidated) witnessed a strong growth at Rs 255 crore as compared to Rs 203 crore in Q3 FY’22 (up 26% YoY). Subscription revenues (ATS/AMC and cloud) stood at Rs 84 crore, up 37% YoY. Annuity revenue streams (ATS/AMC, support, and cloud/SaaS) were at Rs 154 crore, up 38% YoY. Revenue from the sale of products/licenses was at Rs 58 crore Profit after tax stood at Rs 48 crore in Q3 FY’23. 9MFY23: Revenue from operations (consolidated) witnessed a strong growth at Rs 669 crore as compared to Rs 548 crore in 9M FY’22 (up 22% YoY). Profit after tax stood at Rs 98 crore in the first nine months of the year Speaking about the results, Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies Ltd, said – “We are happy to share that we have made good progress and delivered strong performance across key business metrics. This is our first quarter with revenues exceeding Rs 250 crores. We witnessed broad-based growth across all geographies, with overall Q3 revenue growth of 26% YoY. India and EMEA geographies continued to be major growth drivers with revenue growth of 40% and 27% respectively. The subscription revenues had been growing steadily at a healthy pace of 38% YoY. We closed significant cloud/ subscription license projects during the quarter.” “Overall, in the first 9 months of the year, we clocked in revenues of Rs 669 crores, indicating a 22% growth YoY. We witnessed 36 new logo wins in the 9-month period with Q3 clocking 16 new logo wins spread across geographies. This shows strong customer sentiment for enterprise-wide automation using NewgenONE low code digital transformation platform,” said Virender Jeet, CEO, Newgen Software." Result PDF