The mixture worth of the acquisition order is round₹49.84 crore, and the undertaking will likely be executed over a interval of three years.
Moreover, Newgen Software program has additionally gained orders for a Commerce Finance Answer from a world entity price $1.1 million. The order will likely be accomplished throughout the subsequent two years, the corporate mentioned.
It has additionally obtained the Letter of Intent for buy and implementation of buyer onboarding, company finance origination system and enterprise course of automation system from a world shopper for a 5 12 months interval. The combination worth of the order is $2.07 million.
Newgen Software program had posted a 44.5% year-on-year development in internet revenue at ₹68.3 crore for the December 2023 quarter, in comparison with ₹47.3 crore within the Decmber 2022 quarter.
The corporate’s income rose 27% to ₹324 crore in the course of the third quarter as in opposition to ₹255 crore from the year-ago interval.
EBITA rose 35% on a sequential foundation to ₹77 crore from ₹57 crore. The margin stood at 23.8%, up 440 foundation factors from 19.4% in Q2FY24.
Newgen Software program additionally mentioned that it logged 11 new buyer emblem additions within the December quarter.
Overseas brokering agency Jefferies had raised its worth goal on Newgen Software program to ₹1,070 from ₹870 per share. Nonetheless, the brokerage retained its score unchanged to ‘Purchase’ because it believed the expansion momentum will maintain.
Earnings per share estimate for monetary 12 months FY24 to FY26 was raised to five% as Jefferies noticed greater margin estimates and decrease tax charges from SEZ benefitting the agency. Additional, it anticipated the corporate to publish 26% earnings per share on a compounded annual development fee over FY25 – FY26 on the again of ‘the sturdy development outlook and visibility.’
On Thursday, shares of Newgen Software program settled 1.02% greater at ₹796 apiece on the NSE. The inventory has given nearly flat returns to this point this 12 months, rising 0.12%.
The mixture worth of the acquisition order is round₹49.84 crore, and the undertaking will likely be executed over a interval of three years.
Moreover, Newgen Software program has additionally gained orders for a Commerce Finance Answer from a world entity price $1.1 million. The order will likely be accomplished throughout the subsequent two years, the corporate mentioned.
It has additionally obtained the Letter of Intent for buy and implementation of buyer onboarding, company finance origination system and enterprise course of automation system from a world shopper for a 5 12 months interval. The combination worth of the order is $2.07 million.
Newgen Software program had posted a 44.5% year-on-year development in internet revenue at ₹68.3 crore for the December 2023 quarter, in comparison with ₹47.3 crore within the Decmber 2022 quarter.
The corporate’s income rose 27% to ₹324 crore in the course of the third quarter as in opposition to ₹255 crore from the year-ago interval.
EBITA rose 35% on a sequential foundation to ₹77 crore from ₹57 crore. The margin stood at 23.8%, up 440 foundation factors from 19.4% in Q2FY24.
Newgen Software program additionally mentioned that it logged 11 new buyer emblem additions within the December quarter.
Overseas brokering agency Jefferies had raised its worth goal on Newgen Software program to ₹1,070 from ₹870 per share. Nonetheless, the brokerage retained its score unchanged to ‘Purchase’ because it believed the expansion momentum will maintain.
Earnings per share estimate for monetary 12 months FY24 to FY26 was raised to five% as Jefferies noticed greater margin estimates and decrease tax charges from SEZ benefitting the agency. Additional, it anticipated the corporate to publish 26% earnings per share on a compounded annual development fee over FY25 – FY26 on the again of ‘the sturdy development outlook and visibility.’
On Thursday, shares of Newgen Software program settled 1.02% greater at ₹796 apiece on the NSE. The inventory has given nearly flat returns to this point this 12 months, rising 0.12%.
