Latest News | Newgen Software Technologies' Q3 Profit Rises 31 Pc to Rs 89 Cr

New Delhi, Jan 20 (PTI) Tech firm Newgen Software Technologies on Monday posted a 30.8 per cent year-on-year increase in consolidated net profit to Rs 89 crore for the December quarter.

The Noida-headquartered firm reported a profit of Rs 68 crore in the year-ago period, according to a regulatory filing.

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Revenue from operations for the quarter under review came in at Rs 381 crore, a 17.7 per cent uptick from Rs 323.6 crore in the year-ago period.

Sequentially, profit and revenue were up 27 per cent and 5.54 per cent, respectively.

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"We witnessed strong growth in banking & financial services and government verticals during the quarter. We are also entrenching deeper in the insurance & healthcare verticals across markets," Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies, said.

Shares of Newgen Software Technologies settled at Rs 1,575 apiece on the BSE on Monday, 0.66 per cent lower than the previous close.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)