Newgen Software Technologies has announced that it has executed an agreement with Aye Finance for Loan Origination Solution, aggregating to Rs 23.99 crore.
The said order amounting to Rs 23,99,05,800, is set to be completed within a period of six years.In an exchange filing, the company confirmed that neither its promoters, promoter group, nor group companies have any stake or interest in Aye Finance. Additionally, it clarified that this transaction does not qualify as a related party transaction.
The announcement was made after market hours on 27 December, 2024.
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.
The scrip had declined 3.71% to end at Rs 1,623.65 on the BSE on Friday.
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