Newgen Software Tech Q1 net profit down 2.94% at Rs 18.84 cr
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The company reported standalone net profit of Rs 18.84 crore for the quarter ended June 30, 2022 as compared to Rs 19.41 crore in the same period last year, registering a year-on-year decline of 2.94 per cent. Net revenue of the company rose moderately by 15.99 per cent at Rs 167.70 crore in April-June quarter of this fiscal as against Rs 144.58 crore in the corresponding period last year. During April-June quarter, operating expenses increased by 20.12 per cent to Rs 150.13 crore from Rs 124.98 crore in year ago period.
Other Income dipped by 8.10 per cent at Rs 9.64 crore versus (Jun'21 Rs 10.49 crore). Operating Profit slipped by 10.36 per cent to Rs 17.57 crore as against Rs 19.60 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 22.71 per cent in June quarter. Interest grew by 28.33 per cent y-o-y to Rs 0.77 crore, while Taxation decreased by 48.43 per cent at Rs 3.29 crore (Jun'21 Rs 6.38 crore).
