NewGen Software Technologies has registered a consolidated net profit of ₹18.06 crore, an over 100 per cent increase, for the quarter ended December 31, 2018. The consolidated net profit was ₹8.66 crore for the comparable quarter in 2017.
The company’s revenue stood at ₹160.54 crore in the third quarter, up 32 per cent, compared to ₹121.35 crore during the same period in 2017.
Boost from SaaS, Cloud biz
US and India operations continue to be revenue generators at ₹55.37 crore and ₹54.47 crore, respectively.
According to a press release, the growth was driven by strong growth in the US and Asia-Pacific regions that saw a year-on-year growth of 78 per cent and 158 per cent, respectively.
The company added 12 new customers for digital transformation initiatives in the quarter. It also saw 79 per cent year-on-year growth in cloud and SaaS business models.
Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies Ltd, said in a press statement: “The quarter saw a good mix of business from new and existing clients. We continue to focus on delivering the best-in-class solutions for digital transformation to our customers.”