Newgen Software Technologies Q2 Results Live: Profit Rises by 47.18% YOY

Newgen Software Technologies Q2 Results Live : Newgen Software Technologies declared their Q2 results on 15 Oct, 2024, showcasing a remarkable performance. The company reported a topline increase of 23.16% year-over-year, with profits surging by 47.18%. This growth is a strong indicator of the company's robust market position and operational efficiency.

In comparison to the previous quarter, Newgen's revenue saw a solid growth of 14.76%, while profit experienced an impressive increase of 47.85%. This consistent upward trend highlights the company's ability to capitalize on market opportunities and enhance profitability.

The financial results also reveal a rise in Selling, General & Administrative (SG&A) expenses, which increased by 6.12% quarter-over-quarter and 17.91% year-over-year. Despite this uptick in expenses, the company managed to significantly boost its operating income, which was up by 87.84% quarter-over-quarter and 48.86% year-over-year.

Earnings Per Share (EPS) for Q2 stood at ₹4.87, reflecting a substantial increase of 44.94% from the same period last year. This growth in EPS is a positive sign for investors, indicating improved profitability on a per-share basis.

In terms of stock performance, Newgen Software Technologies has delivered a return of 3.74% in the last week, an impressive 68.75% over the last six months, and a notable 65.91% year-to-date return. These figures underscore the company's strong performance in the stock market.

Currently, Newgen Software Technologies boasts a market capitalization of ₹18,127.44 Crores, with a 52-week high of ₹1,548 and a low of ₹463, reflecting significant investor interest and valuation potential.

As of 16 Oct, 2024, out of three analysts covering the company, two have issued a 'Hold' rating while one analyst has given a 'Strong Buy' rating, indicating a generally positive outlook on the company's future performance.