India's Newgen Software surges 20% as quarterly profit grows sevenfold

Newgen Software Technologies

21/10/2020 09:05

** Shares of business process, content management co
 NEWG.NS  rise as much as 19.5% to 269.50 rupees, their highest
since Oct. 22, 2019
    ** New Delhi-based co posted a near sevenfold jump in Q2
profit, helped by performance in its U.S. and Asia Pacific
regions and improved margins due to lower expenses  urn:newsml:reuters.com:*:nFWN2HC0BM
    ** U.S. and APAC regions saw YoY growth of 11% and 39%,
respectively 
    ** NEWG said it had seen increased demand for digital
transformation initiatives 
    ** About 1.4 mln shares change hands, 15x 30-day avg
    ** NEWG shares up 15.7% this year, as of last close

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))