Qatar court orders Newgen Software to pay $1.37 million, 2,00,000 Qatari riyals in damages; check details

Newgen Software Technologies on Tuesday, September 30, said that it received an adverse judgment passed by the Investment and Trade Court in Qatar, which ordered it to pay $1.37 million, or its equivalent in Qatari Riyals, along with 2,00,000 Qatari Riyals (QAR) as compensation for damages.

The court ordered the Delhi-headquartered IT firm to pay the amounts, in addition to the court costs, to a “customer”, Newgen Software said in a regulatory filing.

The filing, however, did not mention the customer involved in the matter.

The court order, dated September 29, was passed over alleged delays in the delivery of a project and deficiencies, the statement added.

Newgen said that it is evaluating various legal remedies available in response to the judgment, including, but not limited to, defending its position through a review petition or appeal to the appropriate court.

“Other than the above financial implications, there is no material impact on the business or operations of the company,” it stated.

Newgen Software Technologies' stock performance

Newgen's shares closed 1.21% higher at ₹887.60 apiece on the National Stock Exchange (NSE) on Tuesday. However, the announcement was made after the market closed.

The scrip has advanced 0.6% over the week and 0.7% over the month. It has declined 24.1% over three months and 10.7% over a period of six months. On a year-to-date basis, it has slipped 47.78%.

While the share touched a 52-week low of ₹758.20 on April 7, 2025, it touched a year’s high of ₹1,798.90 apiece on January 15, 2025.

Newgen Software Technologies has a total market capitalisation of ₹12,575.41 crore, as of September 30, 2025, according to data on the NSE.

Newgen Software Technologies Q1 results

The IT company reported a 4% year-on-year (YoY) surge in its net profit to ₹50 crore in the first quarter of FY26, as against ₹48 crore in the corresponding period a year earlier.

Its revenue from operations increased by 2% YoY to ₹321 crore during the quarter under review, compared to ₹315 crore in the June quarter of FY25. At an operational level, its EBITDA (earnings before interest, tax, depreciation, and amortisation), also known as operating profit, stood at ₹45 crore in Q1FY26, marking a 6% YoY fall from ₹48 crore in the first quarter of the previous fiscal year.

The stock ended 1.21% higher at ₹887.60 on the National Stock Exchange.