Unstoppable Rise: Multibagger IT Coin (ITC) Yields 263% Returns, Marks 9th Consecutive Winning Day
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- Newgen Software shares have surged 35 per cent to hit a record high during intra-day trading on Friday, May 3.
- The IT company’s net profit rose 33 per cent to ₹105.2 crore in Q4FY24, contributing to the bullish trend.
- Shares of Newgen Software have risen for nine consecutive sessions, following robust Q4 results and top brokerage recommendations.
Newgen Software’s record-breaking performance and robust Q4 results drive a bullish trend, offering investors multibagger returns.
Record-breaking Q4 Results
During the March quarter, Newgen Software’s net profit surpassed the ₹100 crore mark for the first time ever. The company also reported its highest ever quarterly revenue at ₹375.3 crore in the March quarter, rising 23 per cent year-on-year (YoY) compared to ₹305 crore in the year-ago period. Revenue was driven by strong growth in Europe, Middle East, and Africa (EMEA) and India region. The company approved a final dividend of ₹4 per equity share i.e. 40 per cent on a face value of ₹10 per share, for the year ended 31st March 2024.
