• Company helps enterprise customers adapt to the uncertain environment with its low code digital automation platform

NEW DELHI, INDIA, 26 MAY, 2020 (GPN): The management of Newgen Software Technologies Ltd. announced results for the Quarter and Financial year ended 31 March 2020 at its Board Meeting held on 26 May 2020.

The business has heavy dependence on the fourth quarter, which impacted the overall performance. The company said it witnessed growth across the board in its key geographies. India, however, continued to face challenges on account of economic sluggishness in non-banking finance companies and banks as well as banking consolidation.

Cloud/SaaS deployments are rapidly increasing in all geographies — the United States, Asia Pacific, India as well as in the Europe, Middle East and Africa region. Cloud revenues were Rs 38 crore and witnessed a growth of 60 per cent year-on-year.

Revenue from sale of products and license were at Rs 118 crore while implementation and digitisation revenues were at Rs 175 crore.

However, profit after tax was down at Rs 73 crore on account of slower growth in top-line and continued investments in R&D, sales and marketing efforts.

Newgen Software is a global provider of low code automation platform managing content, processes, and communication. Its mark detection system is used to identify marks, like tick and cross marks, on document images.

These marks are generally made on hard copies during document review or verification and hinder the extraction of useful data on the document.

This invention helps to identify these marks, which are then removed before the document is sent for extraction. This results in higher extraction accuracy for such cases.

Other Highlights:

Appointment of Ms. Padmaja Krishnan as Non-Executive, Independent Director of the company w.e.f March 24, 2020.

About Newgen

Connecting Enterprises. Transforming Experiences.

Newgen Software Technologies Limited (listed In India on National Stock Exchange [Script code: NEWGEN] and  BSE Ltd. [Script code: 540900]), is a provider of Business Process Management, Enterprise Content Management and Customer Communication Management platforms with large, mission-critical solutions deployed at world’s leading banks, Governments, BPO’s & IT Companies, Insurance firms and Healthcare Organizations.