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Nagarro posts 12.9% YoY constant-currency revenue growth in 9M 2023

MUNICH, Nov. 14, 2023 /PRNewswire/ — Nagarro, a global digital engineering leader, today presented its unaudited financial numbers for Q3 2023 and released its nine-month statement.  

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Nagarro’s superior client experience and its strategic diversification continued to deliver resilient growth. In Q3 2023, revenue grew to €234.3 million, up 1.9% YoY from €229.8 million in Q3 2022 and up 6.6% YoY in constant currency. Organic YoY revenue growth for the quarter was 2.3% in constant currency. Gross profit declined to €56.1 million in Q3 2023 from €69.8 million in Q3 2022. Due to excess production capacity and a shift to consultative selling, gross margin dropped to 23.9% in Q3 2023 from 30.4% in Q3 2022. Adjusted EBITDA declined to €32.0 million (13.7% of revenue) in Q3 2023 from €48.4 million (21.1% of revenue) in Q3 2022. The main EBITDA adjustment was on account of the stock option expense of €1.2 million. 

EBITDA declined to €30.6 million in Q3 2023 from €47.6 million in Q3 2022. EBIT declined to €22.1 million in Q3 2023 from €39.2 million in Q3 2022. Net profit decreased to €12.6 million in Q3 2023 from €25.8 million in Q3 2022.  

The company’s headcount was trimmed by 500 during Q3 2023 to 19,182. The Net Promoter Score from the customer satisfaction survey conducted in Q3 2023 was 67. 

Nine-month results 

Revenue grew to €690.6 million in 9M 2023, up 10.4% YoY from €625.4 million in 9M 2022. Constant currency revenue growth for 9M 2023 was 12.9%. Organic YoY revenue growth for 9M 2023 was 10.6% in constant currency. Gross profit decreased to €175.0 million in 9M 2023 from €180.3 million in 9M 2022. Gross margin dropped to 25.3% in 9M 2023 from 28.8% in 9M 2022. Adjusted EBITDA declined to €92.4 million (13.4% of revenue) in 9M 2023 from €117.6 million (18.8% of revenue) in 9M 2022. EBITDA decreased to €88.7 million in 9M 2023 from €114.9 million in 9M 2022. EBIT declined to €64.7 million in 9M 2023 from €90.7 million in 9M 2022. Net profit declined to €39.1 million in 9M 2023 against €62.1 million in 9M 2022. Operating cash flow adjusted for changes in factoring (including interest on factored amounts) was €61.7 million in 9M 2023 as compared to €32.0 million in 9M 2022. The cash balance decreased by €18.5 million from December 31, 2022, to €91.6 million, mainly on account of the buyback of shares. 

Manas Human, co-founder of Nagarro and Custodian of Entrepreneurship, said, “Given the external circumstances, we are satisfied with the overall financial result. Meanwhile, we continue to improve our offerings, our differentiation, and our ways of working. We believe our industry will continue to evolve, and we want to be prepared to lead the next phase of evolution. We are particularly excited by our vision of the AI-enabled Fluidic Enterprise, which we are gearing up to deliver to our clients.” 

Nagarro will hold its analyst meeting as a video call to discuss Q3 report 2023 on November 14, 2023, at 01:00 pm CET (04:00 am PT / 06:00 am CT / 07:00 am ET / 12:00 pm GMT / 04:00 pm GST / 05:30 pm IST / 08:00 pm SGT / 09:00 pm JST). 

Nagarro will hold its retail investors call to discuss Q3 report 2023 on November 14, 2023, at 03:00 pm CET (06:00 am PT / 08:00 am CT / 09:00 am ET / 2:00 pm GMT / 06:00 pm GST / 07:30 pm IST / 10:00 pm SGT / 11:00 pm JST). 

To attend, please register in advance at https://www.nagarro.com/en/investor-relations/quarterly-statement-call-q3-2023

About Nagarro 

Nagarro, a global digital engineering leader, helps clients become fluidic, innovative, digital-first companies and thus win in their markets. The company is distinguished by its entrepreneurial, agile, and global character, its CARING mindset, and its Fluidic Enterprise vision. Nagarro employs over 19,000 people and is present in 36 countries. For more information, visit www.nagarro.com

FRA: NA9 (SDAX/TecDAX, ISIN DE000A3H2200, WKN A3H220) 

For inquiries, please contact press@nagarro.com

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Jameson Connects & Crepdog Crew Celebrate Subcultures with Limited-Edition Capsule

Celebrating community, creativity, and self-expression through a limited-edition drop inspired by India’s most vibrant subcultures.

MUMBAI, India, June 4, 2025 /PRNewswire/ — Jameson Connects joins forces with India’s largest sneaker and streetwear retailer, Crepdog Crew, to launch a one-of-a-kind limited-edition capsule that celebrates the spirit of counterculture in India. The collaboration is being launched under Jameson Connects – Jam Studio, a culture and community-driven collaborative space, which brings together creative minds to help explore a fresh artistic landscape.

Rooted in the dynamic street and creative scenes of India, Jameson Connects and Crepdog Crew have come together to spotlight authentic voices and celebrate self-expression from the ground up. Inspired by bomber jacket patch culture, the drop reinterprets the spirit of individuality and identity through a distinctive camo-style shacket with interchangeable patches, designed to be a canvas for personal storytelling. Complementing the shacket are a tote bag and mug, completing a bold and collectible capsule collection.

Ayush Kalra pays homage to the tattoo scene, Vijaya Aswani captures the dynamic energy of skateboarding, Jayesh Joshi channels the freedom of the biking community, and Siddhartha Iyer brings alive the rhythm and soul of music.

Anchit Kapil, Co-founder and CEO, Crepdog Crew, said, “Subcultures shape the streets long before trends catch up. At Crepdog Crew, we’ve always built spaces—physical and creative—for the community to thrive. This shacket is our way of putting that truth on fabric—a celebration of individuality, identity, and the scenes that give cities their soul. With Jameson Connects, we’ve created more than a drop—we’ve created a canvas for the culture.”

Mo Joshi, Co-founder of Azadi Records, Culture partner for Jameson Connects, said, “Real culture grows where community thrives. Jameson Connects has always been about championing grassroots voices and giving artists a platform to be seen, heard, and celebrated. This collaboration with Crepdog Crew isn’t just about merch—it’s about movement.”

The drop celebrates the power of creative collaboration through art, music, and community-first experiences.

About Jameson Connects

Powered by Jameson Ginger Ale, Jameson Connects is a community-first platform for India’s creative voices. Through verticals like Jam Pad, Jam Stage, Jam Studio, and Jam Radio, it brings together culture-shaping individuals and subcultures to collaborate, co-create, and connect.

About Azadi Records

Azadi Records is a progressive Indian music label spotlighting thought-provoking hip-hop across regional languages and subcultures. Since 2017, it has given voice to the unheard, pushing the boundaries of what Indian music can be.

For press inquiries, please contact:

Shefali Bhatia, PR Pundit Havas Red | shefali.bhatia@prpundithavasred.com | +91 9821821032

Sanjana Jhawar, PR Pundit Havas Red | sanjana.jhawar@prpundithavasred.com | +91 7023080670

Photo: https://oyefilmy.com/wp-content/uploads/2025/06/jameson-connects-crepdog-crew-celebrate-subcultures-with-limited-edition-capsule-2.jpg

 

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News Wire

Jameson Connects & Crepdog Crew Celebrate Subcultures with Limited-Edition Capsule

Celebrating community, creativity, and self-expression through a limited-edition drop inspired by India’s most vibrant subcultures.

MUMBAI, India, June 4, 2025 /PRNewswire/ — Jameson Connects joins forces with India’s largest sneaker and streetwear retailer, Crepdog Crew, to launch a one-of-a-kind limited-edition capsule that celebrates the spirit of counterculture in India. The collaboration is being launched under Jameson Connects – Jam Studio, a culture and community-driven collaborative space, which brings together creative minds to help explore a fresh artistic landscape.

Rooted in the dynamic street and creative scenes of India, Jameson Connects and Crepdog Crew have come together to spotlight authentic voices and celebrate self-expression from the ground up. Inspired by bomber jacket patch culture, the drop reinterprets the spirit of individuality and identity through a distinctive camo-style shacket with interchangeable patches, designed to be a canvas for personal storytelling. Complementing the shacket are a tote bag and mug, completing a bold and collectible capsule collection.

Ayush Kalra pays homage to the tattoo scene, Vijaya Aswani captures the dynamic energy of skateboarding, Jayesh Joshi channels the freedom of the biking community, and Siddhartha Iyer brings alive the rhythm and soul of music.

Anchit Kapil, Co-founder and CEO, Crepdog Crew, said, “Subcultures shape the streets long before trends catch up. At Crepdog Crew, we’ve always built spaces—physical and creative—for the community to thrive. This shacket is our way of putting that truth on fabric—a celebration of individuality, identity, and the scenes that give cities their soul. With Jameson Connects, we’ve created more than a drop—we’ve created a canvas for the culture.”

Mo Joshi, Co-founder of Azadi Records, Culture partner for Jameson Connects, said, “Real culture grows where community thrives. Jameson Connects has always been about championing grassroots voices and giving artists a platform to be seen, heard, and celebrated. This collaboration with Crepdog Crew isn’t just about merch—it’s about movement.”

The drop celebrates the power of creative collaboration through art, music, and community-first experiences.

About Jameson Connects

Powered by Jameson Ginger Ale, Jameson Connects is a community-first platform for India’s creative voices. Through verticals like Jam Pad, Jam Stage, Jam Studio, and Jam Radio, it brings together culture-shaping individuals and subcultures to collaborate, co-create, and connect.

About Azadi Records

Azadi Records is a progressive Indian music label spotlighting thought-provoking hip-hop across regional languages and subcultures. Since 2017, it has given voice to the unheard, pushing the boundaries of what Indian music can be.

For press inquiries, please contact:

Shefali Bhatia, PR Pundit Havas Red | shefali.bhatia@prpundithavasred.com | +91 9821821032

Sanjana Jhawar, PR Pundit Havas Red | sanjana.jhawar@prpundithavasred.com | +91 7023080670

Photo: https://oyefilmy.com/wp-content/uploads/2025/06/jameson-connects-crepdog-crew-celebrate-subcultures-with-limited-edition-capsule-1.jpg

 

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Jameson Connects grooves to Grammy winner Anderson .Paak in Mumbai

An intimate celebration of music, culture, and community, also featured Seedhe Maut and Shekhinah

MUMBAI, India, June 4, 2025 /PRNewswire/ — Music lovers in Mumbai were treated to an unforgettable evening as Jameson Connects brought its signature global experience, Distilled Sounds, to India’s cultural capital with an electrifying night of rhythm, soul, and connection. Headlining the showcase was none other than Grammy Award-winning artist Anderson .Paak as DJ Pee .Wee, who took over Famous Studios, Mumbai, for a high-voltage, electrifying up-close performance that brought unmatched energy to this thrilling chapter of Jameson Connects.

DJ Pee .Wee, the dynamic alter ego of Anderson .Paak, delivered a high-energy DJ set that showcased his impeccable taste and versatility behind the console. Known for his genre-blending sound that merges hip-hop, soul, funk, and R&B, Anderson .Paak additionally treated audiences to an intimate live performance towards the end, captivating them with his rich musicality and vibrant presence.

Adding to the evening’s vibrant soundscape was a duo who need little introduction — Seedhe Maut. Fresh off the release of their eighth project DL91 FM, the genre-defying Delhi-based icons brought their razor-sharp lyrics and explosive live energy. Joining them was South African powerhouse Shekhinah, celebrated for her soulful vocals and signature fusion of R&B and pop. Together, they formed a thrilling trifecta of artistry that embodies Jameson’s spirit of fearless creativity and community.

With each edition, Jameson Connects continues to raise the bar in crafting immersive cultural experiences that merge music, community, and creativity. Known for spotlighting boundary-breaking talent from around the world while championing local voices, the platform has become a space where global artistry meets homegrown expression. The upcoming Mumbai showcase is set to be no different-an intimate yet high-impact gathering that celebrates the spirit of connection, the power of live performance, and the magic that unfolds when diverse creative energies come together under one roof.

More than just a music event, Jameson Connects delivered a curated celebration of culture, community, and connection. From eclectic pop-ups by homegrown brands to vibrant F&B experiences and the thoughtfully curated zones, every element is designed to spark conversations and camaraderie.

Stay tuned for what’s next from Jameson Connects.

Link: https://www.instagram.com/jameson_alwaysintomixin?igsh=eGszaTBsNTV5N2Yx

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