Newgen Software reports Revenues from operations at Rs 315 cr in Q1 FY’25, up 25% YoY

Launch of Newgen LumYn – Gen AI powered hyper-personalization platform for banks New Delhi, India – July 24th, 2024: The management of Newgen Software Technologies Ltd. announced results for the quarter ended June 30, 2024 at its Board Meeting held on July 18, 2024.

Key Highlights- Q1 FY’25 v/s Q1 FY’24 • Revenues Rs 315 Cr (25% YoY growth) • Profit after Tax Rs 48 Cr (58% YoY growth) • New Logo Wins 13 Commenting on the Company’s performance, Mr. Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies Ltd. said – “As we start a new financial year, we are happy to close another robust performance quarter in terms of revenues and profits. The quarter registered 25% revenue growth driven by strong business across all regions. We had good additions in our client portfolio and added 13 new logos in Q1. New business from our existing customer base also contributed significantly to our revenue growth reaffirming our deep and long-term customer relationships and ability to deliver value to our customers.” “Our solutions in trade, lending, and supply chain finance have been getting good traction and market acceptance, helping businesses grow and manage their operations more efficiently. During the quarter, we also launched our new product named - Newgen LumYn, a Gen AI-powered hyper-personalization platform designed specifically for the banking sector.” said Mr. Virender Jeet, CEO, Newgen Software.

Key Consolidated Financial Highlights (Q1 FY’25) Revenue from operations (consolidated) witnessed a strong growth of 25% Q1 YoY, reaching Rs 315 crore as compared to Rs 252 crore in Q1 FY’24.

• Annuity revenue streams (ATS/AMC, support, and cloud/SaaS and Subscription license) were at Rs 201 crores • Revenue from the sale of products/license were at Rs 45 crores • Revenue from Implementation and others were at Rs 68 crores Profit after tax stood at Rs 48 crore during the quarter, up 58% YoY compared to Rs 30 crore in Q1 FY’24.

Key Business Highlights (Q1 FY’25) • 13 new customer logo additions during the quarter.

• Newgen recognized in Gartner® Market Guide for State and Local Government Grant Management Solutions • Company has been reaffirmed the short-term rating of CRISIL A1 for its debt instruments.

•​ Launch of new product named Newgen LumYn - a Gen AI-powered hyper-personalization platform designed specifically for the banking sector (Disclaimer: The above content is a press release and PTI takes no editorial responsibility for the same.). PTI PWR PWR