4 days ago
Newgen Software shares soar 9% on bagging $2.5 million five-year international contract
Newgen Software shares surged on Thursday after the company secured a $2.5 million, five-year international order for its Enterprise Workflow and Content Management System. The deal includes licensing, implementation, and support services. Strong Q4 earnings and double-digit revenue growth in FY25 also boosted investor sentiment despite mixed stock performance year-to-date.
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Newgen Software Q4 earnings
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Newgen Software Share Price Target and Performance
Shares of Newgen Software Technologies surged 9% to Rs 1,335.7 in intraday trade on Thursday after the company announced a $2.5 million international a regulatory filing on Wednesday, Newgen said it received and accepted a $2.5 million (approximately Rs 20.8 crore) contract for the supply and implementation of its Enterprise Workflow and Content Management five-year contract, awarded by an overseas client, includes licensing, implementation, and support services. Newgen's solutions will be deployed to drive digital transformation across multiple business lines of the customer. Newgen Software reported a 2.8% year-on-year rise in consolidated net profit to Rs 108.3 crore for the quarter ended March 31, 2025, driven by higher revenues. In the same quarter last year, the company posted a profit of Rs 105.26 from operations grew 14.5% to Rs 429.8 crore in Q4 FY25, up from Rs 375.2 crore in Q4 FY24, supported by strong performance in the APAC and US a sequential basis, net profit and revenue increased by 21.6% and 12.7%, the full financial year FY25, Newgen's profit rose 20.5% to Rs 315.2 crore, compared to Rs 251.6 crore in FY24. Annual revenue increased 19.5% to Rs 1,486.8 crore, driven by growth in the license and implementation to Trendlyne, the average target price for Newgen Software is Rs 1,180, indicating a potential downside of 7% from current levels. Among the five analysts covering the stock, the consensus rating is 'Buy'.At 10:16 am, the stock was trading 3.8% higher at Rs 1,270 on the BSE. The stock has gained 28% over the past three months but remains down 26% year-to-date. The company's market capitalisation stands at Rs 17,955 crore.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
