Newgen Software shares dropped as much as 6.68 percent on Thursday, reaching an intraday low of Rs 977.60 a share.
The share fell after the firm revealed poor June quarter results for fiscal year 2025 (Q1FY25).
Newgen Software’s net profit fell 54.9 percent on a quarterly (Q-o-Q) basis to Rs 47.6 crore in the June quarter of FY25 (Q1FY25), compared to Rs 105.3 crore in the March quarter of FY24 (Q4FY24).
The company’s revenue fell slightly more than 16 percent quarter on quarter to Rs 314.7 crore in Q1FY25, compared to Rs 375.3 crore in Q4FY24.
In the June quarter of the financial year 2025 (Q1FY25), the software company’s earnings before interest and tax dropped by a staggering 65.3% to Rs 39.9 crore as opposed to Rs 115.1 crore in the March quarter of the financial year 2024 (Q1FY24).
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