Newgen Software Technologies Ltd reports consolidated PAT of Rs. 29.21 crore in Q2FY21

Newgen Software Technologies Ltd has reported financial results for the period ended September 30, 2020.

Financial Results (Q2 FY20-21) - QoQ Comparison

The company has reported total income of Rs.158.03 crores during the period ended September 30, 2020 as compared to Rs.136.03 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.29.21 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.9.12 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.4.19 for the period ended September 30, 2020 as compared to Rs.1.31 for the period ended June 30, 2020.

Financials	Q2 FY20-21	Q1 FY20-21	% Change
Total Income	₹ 158.03 crs	₹ 136.03 crs	16.17%
Net Profit	₹ 29.21 crs	₹ 9.12 crs	220.29%
EPS	₹ 4.19	₹ 1.31	219.85%

Financial Results (Q2 FY20-21) - YoY Comparison

The company has reported total income of Rs.158.03 crores during the period ended September 30, 2020 as compared to Rs.158.80 crores during the period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.29.21 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.4.22 crores for the period ended September 30, 2019.

The company has reported EPS of Rs.4.19 for the period ended September 30, 2020 as compared to Rs.0.61 for the period ended September 30, 2019.

Financials	Q2 FY20-21	Q2 FY19-20	% Change
Total Income	₹ 158.03 crs	₹ 158.80 crs	-0.48%
Net Profit	₹ 29.21 crs	₹ 4.22 crs	592.18%
EPS	₹ 4.19	₹ 0.61	586.89%

Financial Results (6 months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.294.07 crores during the 6 months period ended September 30, 2020 as compared to Rs.292.71 crores during the 6 months period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.38.33 crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.7.30 crores for the 6 months period ended September 30, 2019.

The company has reported EPS of Rs.5.50 for the 6 months period ended September 30, 2020 as compared to Rs.1.05 for the 6 months period ended September 30, 2019.

Financials	Half-Year Ended FY20-21	Half-Year Ended FY19-20	% Change
Total Income	₹ 294.07 crs	₹ 292.71 crs	0.46%
Net Profit	₹ 38.33 crs	₹ 7.30 crs	425.07%
EPS	₹ 5.50	₹1.05	423.81%

Speaking about the results, Mr. Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies Ltd. said - "We are happy to announce good results this quarter. We witnessed demand uptick from our existing customers and new customers with successful remote execution, achieving highly profitable operations.

Going forward, we see a definite shift towards digital transformation, using low code development and cloud platforms. We have been recognized for the first time, in Gartner's Magic Quadrant for Enterprise Low-Code Application Platforms. Newgen's platform enables rapid application development and offers scalability and agility to an enterprise. This lowcode market is rapidly growing and is expected to proliferate fast in enterprises in the coming 2-3 years. We are glad to be in the midst of this growth market and see great opportunity for Newgen.

We also acquired 17 new logos in this quarter. In Covid-19 era, digital resilience has become a global priority, and we see increased interest across geographies. We are witnessing strong growth in our cloud revenues and expect to make good progress in the coming quarters.

Superior customer experience, differentiated value proposition and operational efficiency measures remain our key strategies, helping us sustain growth and profitability."

Shares of Newgen Software Technologies Ltd was last trading in BSE at Rs.226 as compared to the previous close of Rs. 222.65. The total number of shares traded during the day was 2698 in over 387 trades.

The stock hit an intraday high of Rs. 227.9 and intraday low of 223.55. The net turnover during the day was Rs. 608752.

Source : Equity Bulls

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