Newgen Software returns to 20% growth rates, says US deal pipeline strong

Newgen Software Technologies has returned to historical growth rates to the tune of 20 percent, Chief Executive Officer Virender Jeet told CNBC-TV18. The CEO's remarks come after the IT company reported a good set of financial results for the July-September period. its profit after tax (PAT) grew 73.1 percent sequentially.

“In the US last year, we had substantial growth and witnessed high growth on account of a onetime business, which was a paycheck parity programme; on that base, growing another 20 percent would have been difficult,” Jeet said.

Speaking on the US business, he said, “It is going to be one of our largest markets and going to be our primary growth driver. Our pipeline continues to be strong there and has a lot of interesting cases going on.”