Latest News | Newgen Software Q2 PAT Up 28 Pc to Rs 37.4 Cr

New Delhi, Oct 25 (PTI) IT company Newgen Software on Monday posted a 28 per cent increase in consolidated profit after tax (PAT) at Rs 37.4 crore for the quarter ended September.

The company had recorded a PAT of Rs 29.2 crore in the same quarter a year ago, it said in a statement.

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Consolidated revenue from operations increased by 20 per cent to Rs 185.5 crore from Rs 155 crore in the corresponding quarter of 2020-21.

"All our geographies witnessed growth with significant contribution from EMEA and India. Total income was up by 22 per cent and profit after tax increased by 28 per cent in the second quarter compared to the same period last year," Newgen Software Technologies Chairman and Managing Director Diwakar Nigam said.

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The company's annuity revenues, which include annual maintenance contracts, support and software-as-a-service, increased by 17 per cent to Rs 114.6 crore on a year-on-year basis. Subscription revenue from these services climbed 23 per cent to Rs 60.9 crore.

Revenue from sale of products and license grew by 55 per cent on a YoY basis to Rs 40.9 crore.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)