Speaking about the results, Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies Ltd., said – “Q3 has been on the path of continuous progression amidst ongoing uncertain environment. The quarter witnessed 20% YoY growth in subscription revenues however, several of these orders have long gestation leading to deferment of revenues. We continue to see major wins and expansion of business in our existing customers and added 17 new logos as well. Overall, in the first nine months of the year, we have clocked in revenues of Rs 548 crores and profit after tax of Rs 107 crores.”
“Newgen is pleased to announce that it is acquiring India-based Number Theory, an AI/ML (artificial intelligence and machine learning) data science platform company, subject to the completion of conditions as stated in the approved Share Purchase Agreement. Number Theory’s platform, AI Studio, brings intuitive AI/ML to every enterprise, while unifying the entire lifecycle of data engineering, from data preparation to model development and monitoring. This acquisition will further strengthen Newgen’s low code digital transformation platform, NewgenONE, with AI/ML modeling and data analytics capabilities” said Virender Jeet, CEO, Newgen Software.
Key Consolidated Financial Highlights (Q3 FY’22 v/s Q3 FY’21)
Revenue from operations (consolidated) at Rs 202.5 crores as compared to Rs 185.5 crores in Q3 FY’21, up 9% YoY
EBIDTA stood at Rs 57.9 crores compared to Rs 68.8 crores in Q3 FY’21. EBIDTA decreased on account of normalization of cost base compared to last year as well as increased remuneration to manage attrition
Profit after tax went up by 35% YoY at Rs 47.8 crores from Rs 35.4 crores in Q3 FY’21
Key Consolidated Financial Highlights (9M FY’22 v/s 9M FY’21)
Revenue from operations (consolidated) at Rs 547.5 crores as compared to Rs 472.6 crores in 9M FY’21, up 16% YoY. Annuity revenues were at Rs 330.9 crores, witnessing a growth of 16% YoY.
EBIDTA stable at Rs 127.2 crores compared to Rs 125.5 crores in 9M FY’21.
Profit after tax up by 45% YoY at Rs 106.8 crores from Rs 73.7 crores in 9M FY’21.
Key Operational/Business Highlights (Q3 FY’22)
Key Analyst Recognitions:
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