Newgen Software Stock Plunges 15% on Q3 Profit Drop, Labor Code Impact

• Newgen Software shares dropped over 15% following its Q3 results announcement.
• Net profit fell 23.2% to ₹63 crore, primarily due to a ₹35 crore one-time impact from a new labor code.
• Revenue remained flat at ₹400 crore, showing no significant top-line growth.
• EBIT increased by 3.1% to ₹97 crore, and EBITDA margins expanded to 24.2%.
• India business declined, while EMEA remained flat; APAC and US revenues saw slight increases.

Why It Matters: Newgen Software's Q3 profit was significantly hit by a new labor code, causing a 15% stock drop.