Newgen Software Tech gains after arm secures $1.63 million contract

Newgen Software Technologies rallied 4.75% to Rs 1,120.55 after the company announced that its wholly-owned subsidiary, incorporated in Saudi Arabia, has executed agreements with an international customer valued at $1.632 million.

According to an exchange filing, the contract is set to be executed within a year. The company further clarified that the contract does not involve any related-party transactions and confirmed that neither the promoters, promoter group, nor any group companies have any interest in the awarding entity.

Newgen Software Technologies is the leading provider of a unified digital transformation platform with native process automation, content services, and communication management capabilities. Globally, successful enterprises rely on Newgen's industry-recognized low-code application platform to develop and deploy complex, content-driven, and customer-engaging business applications on the cloud.

 

The companys consolidated net profit jumped 21.73% to Rs 108.34 crore on a 12.8% rise in revenue from operations to Rs 429.89 crore in Q4 FY25 over Q3 FY25.

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