Newgen Software Technologies Ltd Q4 FY20 consolidated PAT up QoQ at Rs. 41.46 crore

Newgen Software Technologies Ltd has reported financial results for the period ended March 31, 2020.

Financial Results (Q4 FY19-20) - QoQ Comparison

The company has reported total income of Rs.200.01 crores during the period ended March 31, 2020 as compared to Rs.188.98 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.41.46 crores for the period ended March 31, 2020 as against net profit / (loss) of Rs.23.96 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.6 for the period ended March 31, 2020 as compared to Rs.3.46 for the period ended December 31, 2019.

Financials	Q4 FY19-20	Q3 FY19-20	% Change
Total Income	₹ 200.01 crs	₹ 188.98 crs	5.84%
Net Profit	₹ 41.46 crs	₹ 23.96 crs	73.04%
EPS	₹ 6	₹ 3.46	73.41%

Financial Results (Q4 FY19-20) - YoY Comparison

The company has reported total income of Rs.200.01 crores during the period ended March 31, 2020 as compared to Rs.206.48 crores during the period ended March 31, 2019.

The company has posted net profit / (loss) of Rs.41.46 crores for the period ended March 31, 2020 as against net profit / (loss) of Rs.62.51 crores for the period ended March 31, 2019.

The company has reported EPS of Rs.6 for the period ended March 31, 2020 as compared to Rs.9.02 for the period ended March 31, 2019.

Financials	Q4 FY19-20	Q4 FY18-19	% Change
Total Income	₹ 200.01 crs	₹ 206.48 crs	-3.13%
Net Profit	₹ 41.46 crs	₹ 62.51 crs	-33.67%
EPS	₹ 6	₹ 9.02	-33.48%

Financial Results (12 months ended FY 19-20) - YoY Comparison

The company has reported total income of Rs.681.71 crores during the 12 months period ended March 31, 2020 as compared to Rs.641.02 crores during the 12 months period ended March 31, 2019.

The company has posted net profit / (loss) of Rs.72.73 crores for the 12 months period ended March 31, 2020 as against net profit / (loss) of Rs.102.20 crores for the 12 months period ended March 31, 2019.

The company has reported EPS of Rs.10.51 for the 12 months period ended March 31, 2020 as compared to Rs.14.74 for the 12 months period ended March 31, 2019.

Financials	Year Ended FY19-20	Year Ended FY18-19	% Change
Total Income	₹ 681.71 crs	₹ 641.02 crs	6.35%
Net Profit	₹ 72.73 crs	₹ 102.20 crs	-28.84%
EPS	₹ 10.51	₹14.74	-28.7%

Speaking about the results, Mr. Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies Ltd. said - "An uncertain environment calls for extraordinary steps by an organization. During the COVID-19 pandemic, Newgen's pre-emptive measures, business continuity processes and robust IT infrastructure ensured quick control and seamless transition to remote working environment. Our solutions, developed on our low code digital automation platform, are of mission critical nature for our long term customers. They serve as the backbone of their operations. During this COVID-19 time we ensured their continued operations and business continuity. The Company focused on health and safety of employees while fully supporting clients worldwide. I would like to take this opportunity to thank all our employees for showing such dedication towards work.

Our business has heavy dependence on the fourth quarter. However, fourth quarter performance was lower than expected impacted by new business deferments due to restrictions imposed globally starting in February 2020 and the subsequent evacuation operations; as well as continuing economic and banking sector slowdown in India market.

While in the short term the environmental challenges are expected to continue to lead to delay in new deals signings, we believe that today, the relevance and requirement of our digital solutions for enterprises is more than ever. We are thus transforming ways of working by aggressively pursuing cloud deployments across the globe.

We believe that our annuity revenue streams from existing customers would help maintain stability in revenues. Our concerted efforts towards more efficient operations and cost optimization for cash preservation would help us maintain a healthy liquidity position during this phase."

Shares of Newgen Software Technologies Ltd was last trading in BSE at Rs.150.85 as compared to the previous close of Rs. 151.9. The total number of shares traded during the day was 1277 in over 122 trades.

The stock hit an intraday high of Rs. 157 and intraday low of 150.6. The net turnover during the day was Rs. 196775.

Source : Equity Bulls

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