Profit before tax stood at Rs 36.61 crore in quarter ended 30 June 2023, slumped 99.9% quarter on quarter (QoQ) while jumped 59.52% YoY.

The company's revenue from EMEA market (Europe, Middle East and Africa) stood at Rs 82.48 crore in Q1 FY24, contributing 33% to the total revenue.

Revenue from India market stood at Rs 77.35 crore in Q1 FY24, contributing 31% to the total revenue.

Revenue from the US market stood at Rs 62.41 crore in Q1 FY24, contributing 25% to the total revenue.

Revenue from the Asia-Pacific market (APAC) market stood at Rs 29.43 crore in Q1 FY24, contributing 11% to the total revenue.

During the quarter, subscription revenues (ATS/AMC, cloud and subscription license) were at Rs 88.6 crore, up 24% YoY. Total annuity revenue streams (ATS/AMC, support, cloud/SaaS and subscription license) at Rs 167.8 crore, contributing 67% to revenues.

The first quarter witnessed stronger license growth, revenue from the sale of products/license was at Rs 42.1 crore, up 1.9 times on YoY basis.

The company's net cash from operating activities stood at Rs 57 crore.

Diwakar Nigam, chairman & managing director of Newgen Software Technologies said – “Continuing the strong momentum, Q1 witnessed robust growth across all geographies. The company witnessed the highest quarterly YoY revenue growth rate. We are witnessing immense opportunities for digital journeys across the financial services sector as well as new requirements for automation at scale. The launch of the recent version of NewgenONE platform further shows our committed towards this direction.”

Virender Jeet, CEO at Newgen Software commented, “During the quarter, we witnessed strong bookings from both - existing and new customers. We are working on building a long term sustainable organization creating robust partner ecosysytems, long term customer relationships, dependable supply chains and a diverse employee base.”

Meanwhile, the company announced that it has received a purchase order for the implementation of end-to-end trade finance including customer web portal & supply chain finance solution. The aggregate value of the aforesaid purchase order is Rs 34.64 crore. The order is valid for 5 years from the date of go live.

Newgen Software Technologies is a global software company and is engaged in the business of software product development including designing and delivering end-to-end software solutions covering the entire spectrum of software services from workflow automation to document management to imaging. Newgen provides a complete range of software that helps automate business processes.

The scrip hit an all-time high at Rs 757.20 in intraday today on the BSE.