Newgen Software Technologies Reports Strong Financial Results for Q3 2023
Newgen Software Technologies, a midcap IT software company, has recently announced its financial results for the quarter ending December 2023. The company has shown a positive performance in this quarter, with a score of 15, an improvement from the previous quarter's score of 14.One of the key highlights of the financial results is the growth in Profit After Tax (PAT) which has increased by 44.5% year on year, reaching Rs 68.35 crore. This is a significant improvement and shows the company's strong financial standing. The near-term trend for PAT is also very positive.
Another positive aspect of the financial results is the increase in Net Sales, which reached its highest at Rs 323.65 crore in the last five quarters. This is a growth of 26.96% year on year, indicating a strong sales performance. The near-term trend for Net Sales is also positive.
The company's Profit Before Tax less Other Income (PBT) has also shown a growth of 33.20% year on year, reaching Rs 68.84 crore. This is another positive indicator of the company's financial performance. The near-term trend for PBT is also positive.
Based on these financial results, MarketsMOJO has given a 'Buy' call for Newgen Software's stock. With a strong financial performance and positive trends, Newgen Software is showing promising growth in the IT software industry. Investors can look forward to a bright future for this midcap company.
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