New Delhi, Jan 20 (PTI) IT firm Newgen Software Technologies on Tuesday reported a 29.42 per cent decline in consolidated net profit to Rs 62.81 crore in the December-ended quarter, mainly on account of the new
Labour Codes.
The New Delhi-headquartered firm had posted a net profit (attributable to the company's shareholders) of Rs 89 crore in the year-ago period.
The company registered a one-time, "non-recurring" provision of Rs 35 crore on the implementation of the new Labour Codes.
Excluding the statutory impact of new labour codes, the company’s profit after tax stood at Rs 90 crore during the quarter under review.
Newgen’s revenue from operations stood 5 per cent higher at Rs 400.27 crore in Q3 FY26, as compared to Rs 381.11 crore in Q3 FY25.
On a quarter-on-quarter basis, the company’s profit fell 23 per cent while revenues remained flat.
"Subscription-led growth remains robust with strong contributions from the US, UK, and Australia, validating our geographic expansion strategy. We onboarded 34 new logos during the nine-month period, reinforcing the trust and preference global enterprises place in our platform,” Diwakar Nigam, Chairman and Managing Director of Newgen Software Technologies, said. ANK DR
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