Newgen Software share price tanked over 6 per cent in intraday trade on the NSE on Thursday, July 17, after the mid-cap IT company announced its June quarter (Q1FY26) results. Newgen Software share price opened at ₹1,094.90 against its previous close of ₹1,091.40 and crashed 6.30 per cent to hit an intraday low of ₹1,022.60. Around 2:05 PM, the IT stock traded 5.88 per cent lower at ₹ 1,027.20. Equity benchmark Nifty 50 was 0.16 per cent down at 25,173 at that time.
Newgen announced its June quarter earnings during market hours on Thursday, July 17. The IT firm reported a 4.5 per cent year-on-year (YoY) rise in its Q1FY26 consolidated profit to ₹49.72 crore from ₹47.57 crore in the same quarter last year.
The company’s revenue from operations for the quarter under review stood at ₹320.66 crore, up nearly 2 per cent against ₹314.72 crore in Q1FY25.
“In Q1, Newgen recorded revenues of ₹321 crore. It reported a profit after tax (PAT) of ₹50 crore. The momentum and interest across our solutions in different markets is maintained, and we won 12 new logos during the quarter across geographies,” said Diwakar Nigam, Chairman and Managing Director, Newgen Software Technologies.
“Our subscription revenue growth is also getting back on track now and witnessed a 19 per cent YoY growth,” said Nigam.
(This is a developing story. Please check back for fresh updates.)
