Newgen Software Technologies Sees Profit Surge in Q2

Newgen Software Technologies experienced a significant 47.19% increase in consolidated net profit to Rs 70.33 crore for the September quarter. This financial uplift was driven by substantial revenue growth from key markets, including notable performance in the APAC region and increased traction in the insurance and government sectors.

Newgen Software Technologies announced a robust 47.19% increase in consolidated net profit, reaching Rs 70.33 crore for the September quarter. This is up from Rs 47.78 crore recorded in the comparable period last year.

The company's revenue saw a notable rise, registering Rs 361.15 crore, a 23.16% increase compared to the previous year's Rs 293.23 crore. Significant growth was reported across all key markets, with the APAC region showing strong performance for two consecutive quarters.

The company, led by CEO Virender Jeet, is diversifying from its core banking and financial services sectors, witnessing growing interest in the insurance and government markets. Despite these gains, shares closed at Rs 1,298.45 on the BSE, marking a 3.95% decrease from the previous session.

(With inputs from agencies.)