The fall in the stock price came after the company announced a weak set of June quarter of financial year 2025 (Q1FY25) results.
Newgen Software’s net profit slipped 54.9 per cent on quarter-on-quarter (Q-o-Q) basis to Rs 47.6 crore in the June quarter of FY25 (Q1FY25), as opposed to Rs 105.3 crore in the March quarter of FY24 (Q4FY24).
The company’s revenue dropped a little over 16 per cent Q-o-Q to Rs 314.7 crore in Q1FY25, as compared to Rs 375.3 crore in Q4FY24.
The software firm’s earnings before interest and tax slipped a whopping 65.3 per cent to Rs 39.9 crore in the June quarter of financial year 2025 (Q1FY25), as opposed to Rs 115.1 crore in the March quarter of financial year 2024 (Q1FY24).
Consequently, the Ebit margin squeezed 1,800 basis points (bps) to 12.7 per cent in Q1FY25, as opposed to 30.7 per cent in Q4FY24.
Founded in 1992 and headquartered in New Delhi, Newgen is the leading provider of a unified digital transformation platform with native process automation, content services, and communication management capabilities.
The information technology (IT) company specialises in Enterprise Content Management (ECM), Business Process Management (BPM), Customer Communication Management (CCM), and Case Management solutions for both private and government-owned enterprises and their subsidiaries.
The market capitalisation of Newgen Software is Rs 14,214.37 crore. The company falls under the SmallCap category.
The 52-week high of the stock is Rs 1,082.10 while its 52-week low is Rs 336.50 per share.
At 1:43 PM, shares of Newgen Software were trading 3.28 per cent lower at Rs 1,013.20 per share. In comparison, BSE Sensex was trading at all time high levels, up 0.51 per cent at 81,127.49 levels.
First Published: Jul 18 2024 | 1:58 PM IST
