Newgen Q2 net profit jumps about to 3-fold to Rs 17.7 cr

IT company Newgen Software Technologies Monday posted close to three-fold jump in consolidated net profit at Rs 17.7 crore in the July-September quarter over the year-ago period.

The company had posted net profit of Rs 6.27 crore in the same period a year ago.

Total income of the company grew by around 29 per cent to Rs 155.48 crore during the reported quarter from around Rs 121 crore in the corresponding quarter of 2017-18.

"We are on a robust growth trajectory across all our key markets; our consolidated total income witnessed a 29 per cent year on year increase in second quarter of financial year 2019 driven by license revenue growth. We have added 22 new customer logos during the quarter including 5 new wins in the US region," Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies said.

Newgen executed an agreement with a global technology player for supply of software licences and related services for total order size at Rs 78.8 crore spread over seven years.