Newgen Software Technologies' net profit jumped 35.48% qoq to Rs4.2cr in the quarter ended September 30. Revenue from operations on a consolidated basis was up 3% yoy at Rs154cr as compared to Rs149.7cr in Q2FY19.
EBITDA was at Rs9.1cr as the company continued to make investments in talent acquisition and employee retention.
Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies Ltd. said – “During H1FY20, we witnessed growth across geographies with APAC and Americas region remaining strong. Our efforts on new logos have resulted in us adding 38 new logos including 6 cloud deals in Banking & Healthcare segments in the Americas region. Q2FY20 was particularly slow for us given the market headwinds in India and the EMEA region. However, we continue to remain focused on our operations and in investing in building capabilities for the future.”
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