Newgen Software Technologies advanced 2.96% to Rs 1,164.10 after the company announced that it has received a purchase order worth Rs 32.44 crore from the Reserve Bank of India (RBI).
The said order involves implementation and maintenance of the Regulatory Application Management System (RAMS) of RBI.The purchase order is valued at Rs 32,44,67,835 and it will be executed within a 7 years.
This purchase order is subject to Newgen's acceptance of all terms and conditions outlined in the Request for Proposal (RFP) and the purchase order. Additionally, the transaction does not qualify as a related party transaction.
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. From onboarding to service requests, lending to underwriting, and for many more use cases across industries.
The companys consolidated net profit surged 47.2% to Rs 70.33 crore in Q2 FY25 as against Rs 47.79 crore posted in Q2 FY24. Revenue from operations jumped 23.2% YoY to Rs 361.16 crore in the quarter ended 30 September 2024.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content