Corporate NewsNews

Newgen Software Reports Total Income of Rs 210 cr in Q3 FY’22, up 11% YoY; Net Profit at Rs 48 cr, up 35% YoY

Total Income                Subscription Revenues               Profit after Tax

Rs.209.8 Cr                           Rs. 61.7 Cr                            Rs. 47.8 Cr

(11% Q3 YoY growth)       (20% Q3 YoY growth)             (35% Q3YoY growth)

Speaking about the results, Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies Ltd., said – “Q3 has been on the path of continuous progression amidst ongoing uncertain environment. The quarter witnessed 20% 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 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.”

“Newgen is pleased to announce that it is acquiring India-based Number Theory, an AI/ML (artificial intelligence and machine learning) data science platform company, subject to the completion of conditions as stated in the approved Share Purchase Agreement. Number Theory’s platform, AI Studio, brings intuitive AI/ML to every enterprise, while unifying the entire lifecycle of data engineering, from data preparation to model development and monitoring. This acquisition will further strengthen Newgen’s  low code digital transformation platform, NewgenONE, with AI/ML modeling and data analytics capabilities” said Virender Jeet, CEO, Newgen Software.

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