Newgen Software Q4 Results: Profit up 9% at Rs 57 crore

New Delhi: Newgen Software on Tuesday reported 8.8 per cent increase in consolidated net profit at Rs 57.4 crore for the fourth quarter ended March 31, 2022. The company had logged a net profit of Rs 52.73 crore in the same period a year ago.

Revenue from operations increased 15.7 per cent to Rs 231.42 crore during the quarter from Rs 199.98 crore in January-March 2020-21.

In the year ended March 31, 2022, Newgen Software's net profit grew 29.83 per cent to Rs 164.21 crore from Rs 126.48 crore in 2020-21.

Annual revenue from operations surged 15.8 per cent to Rs 778.96 crore in 2021-22 from Rs 672.62 crore in the previous year.

The company's board has also approved the merger of Number Theory Software (NTSPL) with Newgen Software.

Newgen had entered into a share purchase agreement with shareholders of NTSPL in January to acquire 100 per cent stake in the company for Rs 14.05 crore of which over Rs 7 crore were paid on January 28 after the completion of acquisition and remaining will be paid over the next three years.