This small-cap software & consulting firm posts 47% growth in Q2 PAT; stock has rallied 170% in 1 year

Revenue for the company came in at ₹361 crore, up 23% YoY, as per the company's press release.

The company added that the annuity revenue streams (ATS/AMC, support, and cloud/SaaS and subscription license) were at ₹205 crore, while revenue from the sale of products and licenses was ₹77 crore. 

It further said that revenue from Implementation and others stood at ₹79 crore for the quarter under review. 

Shares of the company on Wednesday, October 16, were trading at ₹1,291.85 apiece on the BSE, down 0.51%. 

In the past 12 months, the stock has given over 176% return, while on a year-to-date (YTD) basis, the stock price has rallied 62.50%. Over the past five years, shares of the company have jumped 865%. 

Newgen Software is one of the leading providers of a unified digital transformation platform with native process automation, content services, and communication management capabilities.

Commenting on the company’s performance, Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies Ltd, said, "We are excited to report another strong growth quarter in terms of revenue and profits. License revenues have grown by 52% YoY with a number of significant deal closures."

Virender Jeet, CEO, said, "All our key markets have performed well during the quarter, with APAC witnessing strong growth for two consecutive quarters now. While Banking & Financial Services continue to be our core verticals, we saw increasing traction in the Insurance and Government segment in the quarter."