Newgen Software Rockets 5% After Stellar Q3 Earnings

16 Jan 2024 , 03:00 PM

On January 16, Newgen Software witnessed a 5% surge in its stock price following robust financial results for the quarter ending December 31. The software company reported a net profit of Rs 68.3 crore, marking a substantial year-on-year increase of 44.4%.

The revenue from operations for the third quarter of the current fiscal stood at Rs 324 crore, reflecting a significant YoY growth of 27% compared to Rs 255 crore in the corresponding quarter of the previous year.

Notably, the EBITDA for the quarter ending December rose by 35% on a sequential basis, reaching Rs 77 crore, up from Rs 57 crore in the preceding quarter ending September. The company achieved an impressive margin of 23.8%, indicating a notable improvement of 440 basis points from 19.4% in Q2FY24.