Intellect Design Arena 4qtr PAT up 75.15% to Rs 25.87 Cr

City-based financial technology provider in banking and insurance sectors, Intellect Design Arena Ltd has recorded a 75.15 per cent rise in profit after tax at Rs 25.87 crore for the fourth quarter ending March 31, 2018.

The company had recorded profit after tax at Rs 14.77 crore during corresponding period of previous year.

Profits after tax for the year ending March 31, 2018 went upto Rs 46.72 crore from a net loss of Rs 22.38 crore registered during corresponding period of previous year.

Total revenue from operations for the period January-March 31, 2018 surged to Rs 306.97 crore from Rs 250.35 crore registered during same period of last year.

For the financial year ending March 31, 2018, total revenue from operations grew to Rs 1,087.29 crore from Rs 913.57 crore registered during same period of last year.

"I am feeling immensely satisfied with the performance of Intellect over the last three years. Crossing Rs 1,000 crore revenue with license revenue around Rs 200 crore is definitely a fulfillment of the dream of creating a global product company out of India," Chairman and Managing Director of the company, Arun Jain said.

"The investments made by Intellect in AI (artificial intelligence) and Cloud native products are resulting in winning clients in South and North America and this is definitely an indication of a faster growth trajectory," he said.

Intellect Design Arena Ltd, Chief Financial Officer, S Swaminathan said, "During the year (2017-18), EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) has moved Rs 103 crore and PAT moved Rs 69 crore over the previous year results highlighting the way we are managing the business in a caliberated manner.