Newgen Software shares hit record high on Q4 earnings; check details

Shares of Newgen Software Technologies zoomed to their record high today after the firm announced its Q4 earnings. Newgen Software Technologies stock rose 12.56% to the high of Rs 974.75 against the previous close of Rs 865.95 on BSE. Market cap of the firm rose to Rs 13,611 crore.

The IT firm reported a 54% rise in net profit for the quarter ended March 2024. Net profit climbed to Rs 105.3 cr in Q4 against Rs 68.3 cr on a QoQ basis. Revenue climbed 16% to Rs 375.3 crore in the last quarter against Rs 323.6 cr on a QoQ basis. EBITDA rose 59.2% to Rs 122.6 cr in Q4 against Rs 77 cr in the Q4 of FY23.

Earnings per share of the IT firm rose to Rs 7.52 in Q4 against Rs 4.90 in Q4 of FY23.

Total 0.75 lakh shares of the firm changed hands amounting to a turnover of Rs 6.84 crore on BSE.

“Recommended a final dividend of Rs 4/- (four) per equity share (on face value of Rs. 10/- each on the expanded capital base post bonus issue of 1:1) i.e. 40% on a face value of Rs. 10/- per share, for the year ended 31st March 2024 subject to the approval of the Shareholders at the forthcoming Annual General Meeting (“AGM”) of the Company. Information regarding the record date for payment of the final dividend, if any, will be intimated in due course,” said the IT firm.