Newgen Software Technologies announced Q2FY23 results: Consolidated (Q2FY23): Revenue from operations (consolidated) witnessed a strong growth at Rs 226 crore as compared to Rs 186 crore in Q2FY22 (up 22% YoY). Subscription revenues (ATS/AMC and cloud) stood at Rs 79 crore, up 30% YoY. Annuity revenue streams (ATS/AMC, support, and cloud/SaaS) were at Rs 143 crore Revenue from the sale of products/licenses was at Rs 47 crore Profit after tax stood at Rs 30 crore in Q2FY23. Consolidated (H1FY23): Revenue from operations (consolidated) witnessed a strong growth at Rs 414 crore as compared to Rs 345 crore in H1FY22 (up 20% YoY). Profit after tax stood at Rs 49 crore in the first half of the year. Speaking about the results, Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies Ltd. said – “We witnessed a robust 22% YoY growth in Q2 revenues with growth across all markets. Our subscription revenues witnessed a growth of 30% YoY. We are happy to share that we launched our low code, comprehensive, easily configurable, and future-ready Trade Finance platform during the quarter. The platform is a gamechanger as it helps banks go paperless and streamline their end-to-end trade processes while ensuring compliance with domestic and international regulations. We are excited about this launch and are confident that this will play a pivotal role in accelerating our company’s growth.” “We continue to see robust demand especially across our traditional markets despite the prevailing uncertainty in the global economy. In Q2, India; EMEA and APAC geographies grew at 27%, 24% and 39% respectively. The quarter was marked by 14 new logo wins spread across geographies.” said Virender Jeet, CEO, Newgen Software. Result PDF
Newgen Software Technologies Announced Q1FY23 Result : Newgen Software Reports Revenue of Rs 188 cr in Q1 FY’23, up 18% YoY With artificial intelligence and data science powered NewgenONE and cloud-first approach, the company is well-poised for accelerated digital initiatives. Revenues Rs 188 Cr (18% Q1 YoY growth) Subscription Revenues Rs 71 Cr (33% Q1 YoY growth) Annuity Revenues Rs 131 Cr (25% Q1 YoY growth) Revenue from operations (consolidated) witnessed strong growth reaching Rs 188 crores as compared to Rs 160 crores in Q1 FY’22 (up 18% YoY). Subscription revenues (ATS/AMC and cloud) were at Rs 71 crores, up 33% YoY. Annuity revenue streams (ATS/AMC, support, and cloud/SaaS) were at Rs 131 crores Revenue from the sale of products/license was at Rs 14 crores Profit after tax stood at Rs 19 crores as compared to Rs 22 crores in Q1 FY’22. This was impacted due to the normalization of cost base on account of increased employee and travel costs. Speaking about the results, Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies Ltd. said – “FY’23 has started on a strong note with revenue growth of 18% Q1 YoY with cloud and subscription revenues growing at 33% Q1 YoY. Given the seasonal nature of our business, Q1 is a lean quarter for us. On the cost front, there has been an impact of elevated employee costs and gradually normalizing travel expenses, however, Q1 margins are not a reflection of the year margins. We strongly believe that we have a resilient business model in place, with our products having significant leverage across both sides of the market opportunity - revenue enhancement and cost optimization. “We continue to work on our long term cloud roadmap. We have enhanced NewgenONE with a cloud-native, multi-persona artificial intelligence and data science platform. Our platform is further enriched with intelligent document classification and extraction, integrated process, robotic process automation and easy application deployment capabilities.” said Virender Jeet, CEO, Newgen Software. Result PDF
Newgen Software Technologies announced Q4FY22 results: FY22: Revenue from operations (consolidated) at Rs 779.0 crores as compared to Rs 672.6 crores in FY21, up 16% YoY. Subscription revenues (ATS/AMC and cloud) were at Rs 246.1 crores, up 23% YoY; increasing share of the cloud business. Total annuity revenue streams (ATS/AMC, support, and cloud/SaaS) at Rs 456.5 crores, contributing 59% to revenues Revenue from the sale of products/license were at Rs 161.0 crores, up 23% YoY Profit after tax up by 30% YoY at Rs 164.2 crores from Rs 126.5 crores in FY’21. Cash, Bank Balance, Investments, and Bank Deposits at Rs 462.2 crores as of 31 March, 2022. Q4FY22: Revenue from operations (consolidated) witnessed strong sequential growth reaching Rs 231.4 crores as compared to Rs 200.0 crores in Q4 FY’21 (up 16% YoY). Subscription revenues (ATS/AMC and cloud) were at Rs 69.8 crores, witnessing strong growth of 34% YoY. Annuity revenue streams (ATS/AMC, support, and cloud/SaaS) were at Rs 125.5 crores Revenue from the sale of products/license were at Rs 42.4 crores Profit after tax stable at Rs 57.4 crores from Rs 52.7 crores in Q4 FY’21 Speaking about the results, Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies Ltd. said, “FY’22 was a transition year for us in many aspects, as we complete 30 years of our global enterprise product journey. We were back on the growth track witnessing 16% YoY revenue growth during the year. We have been able to achieve a smooth transition from license to cloud and subscription revenues, which are more long term and multi-year in nature, along with accomplishing growth. Cloud and Subscription revenues have witnessed a robust growth of 23% YoY. We have large cloud and subscription order booking leading to more assured revenues in future years. We are seeing increasing adoption of subscription/cloud across geographies with large orders in India, EMEA, APAC as well as Australia.” Result PDF