The management of Newgen Software Technologies Ltd. announced results for the quarter ended September 30, 2022, at its Board Meeting held on October 18, 2022.
Key Highlights- Q2 FY’23 v/s Q2 FY’22
| Revenues
Rs 226Cr |
Subscription Revenues
Rs 79 Cr |
Annuity Revenues
Rs 143 Cr |
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| (22% Q2 YoY growth) | (30% Q2 YoY growth) | (24% Q2 YoY growth) |
Speaking about the results, Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies Ltd. said – “We witnessed a robust 22% YoY growth in Q2 revenues with growth across all markets. Our subscription revenues witnessed a growth of 30% YoY.
We are happy to share that we launched our low code, comprehensive, easily configurable, and future-ready Trade Finance platform during the quarter. The platform is a gamechanger as it helps banks go paperless and streamline their end- to-end trade processes while ensuring compliance with domestic and international regulations. We are excited about this launch and are confident that this will play a pivotal role in accelerating our company’s growth.”
“We continue to see robust demand especially across our traditional markets despite the prevailing uncertainty in the global economy. In Q2, India; EMEA and APAC geographies grew at 27%, 24% and 39% respectively. The quarter was marked by 14 new logo wins spread across geographies.” said Virender Jeet, CEO, Newgen Software.
