The contract, awarded by an overseas customer, includes licensing, implementation, and support services, and will be executed over a five-year period. As part of the deal, Newgen’s solutions will be deployed to drive digital transformation across multiple business lines of the client.
Also Read: Newgen Software Technologies arm wins order worth $2.57 million in US
For the whole of FY23, the company had reported a profit of ₹177 crore. The company witnessed a 54.2% quarter-on-quarter growth in net profit at ₹105.3 crore for the March quarter, compared to ₹68.3 crore in the previous December quarter.
Revenue from operations surged to ₹375.3 crore in the reporting quarter, which was 16% higher than ₹323.6 crore in the last quarter. The company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased 59.2% QoQ to ₹122.6 crore, while margin improved to 33% as against 24% in the previous quarter.
Also Read: Explained — Why Newgen Software Shares have declined 32% in five trading sessions
Shares of Newgen Software Technologies Ltd ended at ₹1,231.15, up by ₹9.65, or 0.79%, on the BSE.
