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Newgen Software Technologies' US subsidiary bags $1.495 million Caribbean contractShares of Newgen Software Technologies Ltd ended at ₹488.10, down by ₹21.05, or 4.13%, on the BSE.By Jomy Jos Pullokaran  March 4, 2026, 1:27:02 AM IST (Published)2 Min ReadIT firm Newgen Software Technologies Ltd on Tuesday (March 3) announced that its US-based material subsidiary, Newgen Software Inc (NSI), has signed a Master Service Agreement with an insurance company in the Caribbean for the supply, installation, and implementation of the NewgenONE Digital Transformation Platform.

The total value of the contract is $1,495,000, equivalent to ₹13.77 crore. The agreement covers licensing, implementation, annual maintenance, and support services, with a time frame of three years for execution.

The customer is an international entity based in the Caribbean. The company confirmed that neither the promoters nor the promoter group or group companies have any interest in the counterparty. This transaction is not classified as a related-party transaction under the Companies Act, 2013.

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Third Quarter Results

The company's net profit during the quarter fell by 23.2% to ₹63 crore from ₹82 crore last quarter. The company stated that there was a one-time impact of the new labour code worth ₹35 crore, which impacted its profitability. Adjusted for that, the bottomline would have been higher on a sequential basis.

Revenue for the quarter remained unchanged at ₹400 crore from ₹401 crore in the July-September quarter. Earnings Before Interest and Tax (EBIT) grew by 3.1% to ₹97 crore from ₹94.4 crore last quarter. EBITDA margins, though, expanded by 70 basis points from the previous quarter to 24.2% from 23.5%.

Newgen Software's India business declined to ₹115.4 crore from ₹117.8 crore, while the EMEA business topline remained flat at ₹123.6 crore. APAC revenue saw a small increase to ₹65.32 crore from ₹63.45 crore, while the US business revenue increased to ₹96 crore from ₹95 crore in the September quarter.

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Shares of Newgen Software Technologies Ltd ended at ₹488.10, down by ₹21.05, or 4.13%, on the BSE.Continue Reading(Edited by : Jomy Jos Pullokaran)TagsNewgen Software Technologiesshare market today