As compared to Q3 FY23, the company's net profit and revenue jumped 44.47% and 26.96%, respectively.

The rise in the revenue was mainly driven by strong growth in banking and financial services across geographies.

Total annuity revenue streams (ATS/AMC, support, cloud/SaaS and subscription license) was at Rs 191 crore, with strong growth in support revenues. Subscription revenues (ATS/AMC, cloud and subscription license) were at Rs 96 crore. Revenue from implementation grew by 66% in Q3 YoY to reach Rs 69 crore.

Profit before tax stood at Rs 7,998.57 crore in Q3 FY24, recording a growth of 30.98% YoY and 36.5% QoQ.

EBITDA was at Rs 77 crore during the quarter (up 30.8% YoY and up 35.3% QoQ). EBITDA margin improved to 23.8% in Q3 FY24 as compared to 23.1% in Q3 FY23 and 19.4% posted in Q2 FY24.

Speaking about the results, Diwakar Nigam, chairman & managing director, Newgen Software Technologies said, “In the nine month period ending December 2023, Newgen has demonstrated strong growth in revenues led by India and EMEA. We are witnessing tremendous opportunities in the lending and trade finance space. We have also maintained robust profitability and strong cash flow generation highlighting the financial strength and resilience of our operations. Through our investments in innovation, people and customer-centric approach, we have been nurturing and expanding our existing customer relationships; along with adding 38 new logos in 9M FY’24.”

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 898.60 in today’s intraday session.