Newgen Software Technologies surged 7.28% to Rs 928.95 after the company's consolidated net profit jumped 54.02% to Rs 105.27 crore on 15.95% rise in revenue from operation to Rs 375.27 crore in Q4 FY24 over Q3 FY24.
As compared to Q4 FY23, the company's net profit and revenue jumped 31.69% and 23.02%, respectively.
The rise in the revenue was mainly driven by strong growth in Europe, the Middle East and Africa (EMEA) and India region.
Total annuity revenue streams (ATS/AMC, support, cloud/SaaS and subscription license) was at Rs 212 crore, with strong growth in support revenues. Revenue from products grew by 24% in Q4 YoY to reach Rs 74 crore.
Profit before tax stood at Rs 129.03 crore in Q3 FY24, recording a growth of 33.9% YoY and 61.31% QoQ.
EBITDA was at Rs 122.5 crore during the quarter (up 27.1% YoY and up 59.1% QoQ). EBITDA margin improved to 32.7% in Q4 FY24 as compared to 23.8% in Q3 FY24 and 31.6% posted in Q4 FY23.
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On full year basis, the companys consolidated net profit jumped 42.14% to Rs 251.61 crore on 27.71% increase in revenue 1,243.83 crore in FY24 over FY23.
Meanwhile, the firms board recommended a final dividend of Rs 4 per share for FY24, subject to the approval of the shareholders. The record date for payment of the dividend, if any, will be intimated in due course.
Diwakar Nigam, chairman & managing director, Newgen Software Technologies, said, Our large customer base has been increasing, leading to strong growth in revenue per customer. For the quarter, we have registered our highest ever quarterly revenue at Rs 375 crore in Q4. Profit after tax crossed Rs 100 crores for the first time in a quarter.
Virender Jeet, CEO, Newgen Software, said, Our commitment to innovation and delivering value to our customers remains steadfast. During the year, we worked constantly on refining and expanding the capabilities of our platforms and solutions. We have successfully rolled out several new versions, with enhanced features, improved design and deployment journeys, enhanced AI/ML capabilities, improved security, and user-centric upgrades. We have increased revenues from existing customers as well as added 51 new logos in FY24.
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 scrip hit an all-time high at Rs 992.50 in todays intraday session.
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