Newgen Software’s stock surged to a five percent upper circuit on January 16, reaching Rs 898.60, a fresh 52-week high. The software company’s impressive performance in the December quarter contributed to this uptrend, reporting a substantial 44 percent year-on-year rise in net profit.
The Q3 financials revealed a profit of Rs 68.3 crore and revenue of Rs 324 crore, marking a significant 27 percent increase from the corresponding period last year. The EBITA showed a robust sequential growth of 35 percent, reaching Rs 77 crore from Rs 57 crore. Additionally, the margin witnessed a notable improvement, standing at 23.8 percent, up by 440 basis points from 19.4 percent in Q2FY24.
