Newgen Software climbs after Q2 PAT rises 58% QoQ

Newgen Software Technologies jumped 4.45% to Rs 377.85 after the company's consolidated net profit rose 57.82% to Rs 30.27 crore on 20.34% increase in net sales to Rs 226.11 crore in Q2 September 2022 over Q1 June 2022.

On a consolidated basis, the company's net profit fell 19.04% and net sales rose 21.90% in Q2 FY23 over Q2 FY22.

The profit before tax (PBT) stood at Rs 36.91 crore in Q2 FY23, up 60.78% quarter-on-quarter (QoQ) and down 24.23% year-on-year (YoY).

Employee expense stood at Rs 127.75 crore in Q2 FY23, up 9.96% QoQ and up 25.31% YoY.

The company's revenue from EMEA market (Europe, Middle East and Africa) stood at Rs 73.96 crore in Q2 FY23, contributing 32.71% to the total revenue.

Revenue from India market stood at Rs 67.37 crore in Q2 FY23, contributing 29.80% to the total revenue.

Revenue from the US market stood at Rs 51.54 crore in Q2 FY23, contributing 22.79% to the total revenue.

Revenue from the Asia-Pacific market (APAC) market stood at Rs 33.25 crore in Q2 FY23, contributing 14.71% to the total revenue.

The company's net cash from operating activities stood at Rs 57.06 crore in the half year ended September 2022, steeply lower than Rs 104.38 crore in the same period last year.

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

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