The management of Newgen Software Technologies Ltd. announced results for the quarter ended December 31, 2022, at its Board Meeting held on January 17, 2023.
Speaking about the results, Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies Ltd. said – “We are happy to share that we have made good progress and delivered strong performance across key business metrics. This is our first quarter with revenues exceeding Rs 250 crores. We witnessed a broad-based growth across all geographies, with overall Q3 revenue growth of 26% YoY. India and EMEA geographies continued to be major growth drivers with revenue growth of 40% and 27% respectively. The subscription revenues had been growing steadily at a healthy pace of 38% YoY. We closed significant cloud/ subscription license projects during the quarter.”
“Overall, in the first 9 months of the year, we clocked in revenues of Rs 669 crores, indicating a 22% growth YoY. We witnessed 36 new logo wins in the 9 month period with Q3 clocking 16 new logo wins spread across geographies. This shows strong customer sentiment for enterprise-wide automation using NewgenONE low code digital transformation platform.” said Virender Jeet, CEO, Newgen Software.