Newgen Software - Q2FY21 Result - Angel Broking

Mr. Jyoti Roy - DVP - Equity Strategist, Angel Broking Ltd

"Newgen Software reported a 0.6% YoY growth in consolidated revenues to ₹155 crore for Q2FY21, as compared to revenues of ₹154 crore for Q2FY20. EBIDTA for the quarter stood at ₹41.1 crore up by 350% YoY while EBIDTA margins expanded by 20.6 percentage points YoY to 26.5%. Sharp increase in EBITDA was on account of lower employee and other expenses which led to fall in total expenses by 21.4% YoY to ₹113.9 crore. Net profit for the quarter was up by 590% YoY to ₹29.2 crore as compared to profit of ₹4.4 crore in the corresponding quarter previous year. While the company delivered a good set of numbers especially on the margins front sustainability of margins and acceleration in topline growth would be the key monitorables for the company going forward."

Shares of Newgen Software Technologies Ltd was last trading in BSE at Rs.246.3 as compared to the previous close of Rs. 225.35. The total number of shares traded during the day was 142886 in over 13574 trades.

The stock hit an intraday high of Rs. 269 and intraday low of 227.85. The net turnover during the day was Rs. 36348435.

Source : Equity Bulls

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