Newgen Software Technologies profit rises 57% to Rs 30 cr in April-June

Unified digital transformation solutions provider Newgen Software Technologies Ltd on Wednesday reported a 57 per cent rise in its profit after tax at Rs 30 crore in the April-June quarter of the current fiscal.

The company had reported a profit after tax (PAT) of Rs 19.2 crores in the first quarter of the previous fiscal, Newgen Software said in a release.

Revenue from operations stood at Rs 251.7 crore in the reporting quarter, which was 34 per cent higher than Rs 187.9 crore in the year-ago period.

According to Diwakar Nigam, the Chairman & Managing Director of Newgen Software Technologies, the company witnessed the highest quarterly revenue growth rate amid rising demand for digital transformation and automation.

"We are witnessing immense opportunities for digital journeys across the financial services sector as well as new requirements for automation at scale. The launch of the recent version of NewgenONE platform further shows our commitment towards this direction. We are embedding AI and generative AI capabilities in our platforms, redefining the future enterprise automations," Nigam said.

Newgen Software Technologies provides its clients with low-code application platform to develop and deploy complex, content-driven, and customer-engaging business applications on the cloud.