Newgen Software Q4: Profit rises 63% at Rs 78.61 crore; dividend of Rs 5 per share

Newgen Software on Monday, May 2, 2023, reported a 63 percent rise in the consolidated profit at Rs 78.61 crore for the fourth quarter ended March 31, 2023 (Q4FY23). It posted a profit of Rs 48 crore in the previous quarter ended December 31, 2022 (Q3FY23).

The software company’s revenue from operations grew by 19.7 percent at Rs 305 crore against Rs 255 crore posted in previous quarter. Its EBITDA rose by 63.4 percent to Rs 96.4 crore in the fourth quarter against Rs 59 crore posted in the previous quarter.

Newgen Software’s margin jumped to 31.6 percent in the reported quarter which is the highest in past 2 years. EBITDA margins of 23.1 percent were reported in the third quarter of the financial year 2022-23.

The Board of Directors of the software company has recommended a final dividend of Rs 5 per share for the financial year 2022-23.

Shares of Newgen Software were trading 13 percent higher in the last hour of trade. The stock also hit a 52week high today.