Newgen Software Q2FY19 PAT Up 183% YoY at Rs 17.77 Cr | CORPORATE ETHOS

Newgen Software Q2FY19 PAT Up 183% YoY at Rs 17.77 Cr

By: | October 31, 2018
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Oct 31: Newgen Software Technologies Ltd has reorted 183% growth in profit after tax on annualised basis at Rs 17.77 cr for Q2FY19 compared to Rs 6.27 cr in Q2FY18.otal Income (Consolidated) up by 29% YoY to reach Rs 155.48 crores in Q2 FY’19 compared to Rs 120.96 crores in Q2 FY’18. Revenue from operations (Consolidated) witnessed strong growth momentum and was up by 26% YoY to reach Rs 149.66 crores as compared to Rs 118.66 crores in Q2 FY’18 driven by license revenue growth of 57% YoY

Mr. Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies Ltd. said – “Customer centricity is of prime importance to Organizations today leading to reinvention of their workplaces. As a result, Newgen’s solutions are finding strong traction across the globe. We are on a robust growth trajectory across all our key markets; our consolidated total income witnessed a 29% YoY increase in Q2 FY’19 driven by license revenue growth. We have added 22 new customer logos during the quarter; including 5 new wins in the US region. Our Cloud revenues grew by 163% YoY in line with our expectations.

-Revenue from Sale of Products/ License were at Rs 57.6 crores
-Annuity Revenue streams (ATS/AMC and Support) were at Rs 65.8 crores
-Cloud/SaaS continues to be our fastest growing revenue component. Cloud/ SaaS revenues were at Rs 5.7 crores
-Implementation & Digitization revenues were at Rs 20.5 crores
-EBIDTA (adjusted for other income) was at Rs 20.84 crores up by 139% compared to Rs 8.71 crores in Q2 FY’18.
-Basic Earnings per shares was at Rs 2.62 in Q2 FY’19 compared to 1.00 in Q2 FY’18.