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Newgen Software reports Revenues of Rs 285cr in H1 FY'20, up 11% YoY

Posted On: 2019-10-22 21:54:24

The management of Newgen Software Technologies Ltd. announced results for the Quarter and Financial period ended 30 September 2019 at its Board Meeting held on 22 October 2019.

Key Financial Highlights (Q2 FY'20) - [Y-o-Y Comparison]

- Revenue from operations (Consolidated) up 3% YoY at Rs 154.0 crores as compared to Rs 149.7 crores in Q2 FY'19.

* Revenue from Sale of Products/ License were at Rs 29.1 crores
* Annuity Revenue streams (ATS/AMC, Support and Cloud/SaaS) were at Rs 90.4 crores. Cloud/SaaS continues to be our fastest growing revenue component.
* Implementation & Digitization revenues were at Rs 34.5 crores

- EBITDA* was at Rs 9.1 crores as the Company continued to make investments in talent acquisition and employee retention.

- Profit after tax is Rs 4.2 crores.

Key Financial Highlights (H1 FY'20) - [Y-o-Y Comparison]

- Revenue from operations (Consolidated) up by 11% at Rs 285.0 crores as compared to Rs 256.1 crores in H1 FY'19.
- EBITDA* was at Rs 16.9 crores.
- Profit after tax is Rs 7.3 crores.

Speaking about the results, Mr. Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies Ltd. said - "During H1 FY'20, we witnessed growth across geographies with APAC and Americas region remaining strong. Our efforts on new logos have resulted in us adding 38 new logos including 6 cloud deals in Banking & Healthcare segments in Americas region.

Q2 FY'20 was particularly slow for us given the market headwinds in India and EMEA region. However, we continue to remain focused on our operations and in investing in building capabilities for the future."

Shares of Newgen Software Technologies Ltd was last trading in BSE at Rs.247.5 as compared to the previous close of Rs. 267. The total number of shares traded during the day was 5233 in over 300 trades.

The stock hit an intraday high of Rs. 267 and intraday low of 246.3. The net turnover during the day was Rs. 1337015.


Source: Equity Bulls

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