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Business EconomyPosted at: Jan 18 2022 6:34PM


Newgen Q3 profit up by 35 pc

New Delhi, Jan 18 (UNI) Newgen Software Technologies on Tuesday posted a net profit of Rs 47.8 crore on December 31, 2021, up 35 per cent, compared to Rs 35.4 crore in the Q3 of FY 21.


The company's consolidated revenue from operations was at Rs 202.5 crore as compared to Rs 185.5 crore in Q3 FY’21, up 9 per cent YoY.

Commenting on the results, Diwakar Nigam, Chairman and Managing Director, Newgen Software Technologies Ltd, said, "Q3 has been on the path of continuous progression amidst an ongoing uncertain environment. The quarter witnessed 20 per cent YoY growth in subscription revenues however, several of these orders have long gestation leading to deferment of revenues.''


''We continue to see major wins and expansion of business in our existing customers and have added 17 new logos as well. Overall, in the first nine months of the year, we have clocked in revenues of Rs 548 crores and profit after tax of Rs 107 crores," he said.

The company also announced acquisition of Number Theory, an artificial intelligence and machine learning data science platform company.
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