209% Gain YTD: Mid Cap IT Stock Hits 52-Week High, Soars 10% On Robust Q2 Results

Mid cap IT Software stock Newgen Software Technologies Ltd shares zoomed 10.64% intraday and traded new 52-week high today on BSE after announcing robust Q2 results for second consecutive quarter. The scrip is currently trading 8.22% higher or 85.55 points at 1125.80 per share at 10:58 am. Newgen Software Technologies shares zoomed 139% in last 6-months and gained 209% YTD.

The company announced a surge of 60.6% in its profit after tax or PAT at Rs 47.8 crore for the quarter ended September 30, 2023 pushed by robust growth in financial and banking services segment across geographies. It announced a PAT of 29.8 crore in corresponding quarter of last fiscal. Check details below:

Newgen Software Technologies Q2 Results: The company for the quarter under consideration reported a rise of 29.7% in its revenue from operations to Rs 293 crore as compared to Rs 226 crore in the year-ago financial year. Its EBITDA surged 59.3% YoY to Rs 57.2 crore. The company's margins bettered 290 basis points to 19.5%. "Upon the sanction becoming effective from the appointed date i.e. 01.04.2022 as provided under the Scheme, NTSPL stands dissolved without undergoing the process of winding up," the company said.

Newgen Software Stock Outlook & Return Over Years: Current market price of Newgen Software share on BSE is Rs 1125.80 per share. Its 52-week high price is Rs 1174.00 per share and 52-week low price is Rs 327.95 per share, respectively. The company has a market capitalisation of Rs 7,875.61 crore. Newgen Software stock gained over 64% in last 3-months, jumped 209% YTD, gained 202% in last 1-year, and rose 415% in last 3-years when S&P BSE Information Technology 47.83%.

About Newgen Software: Newgen is the leading provider of a unified digital transformation platform with native process automation, content services, and communication management capabilities. Globally, successful enterprises rely on Newgen's industry-recognized low code application platform to develop and deploy complex, content-driven, and customer-engaging business applications on the cloud. From onboarding to service requests, lending to underwriting, and for many more use cases across industries. Newgen unlocks simple with speed and agility, according to its official website.

Disclaimer

The stock just highlights the rally in shares after Q2 results and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.