Intellect Design Arena Reports Robust Q1FY24, Share Price Surges Over 15%

28 Jul 2023 , 01:52 PM

Intellect Design Arena’s share price witnessed a significant surge of over 15% during Friday’s trading session, reaching close to its 52-week high level. The rise in share price followed the software company’s strong Q1FY24 financial results, which were reported on Thursday.

The share price of Intellect Design Arena opened at Rs 601.55 apiece on the Bombay Stock Exchange (BSE). According to the company’s exchange statement, total revenue for the first quarter of fiscal year 2024 witnessed a substantial 19% year-on-year growth, rising from Rs 540 crore to Rs 644 crore.

Profit after tax (PAT) also saw an impressive YoY increase of 36%, reaching Rs 93 crore in Q1 FY24, up from Rs 69 crore in Q1 FY23.

EBITDA (earnings before interest, tax, depreciation, and amortization) climbed by 33% YoY, reaching Rs 155 crore in Q1 FY24, compared to Rs 116 crore in Q1 FY23.

Intellect Design Arena sealed 11 deals in Q1FY24, including notable agreements with companies like Aspen, OTP Bank, a leading bank in Saudi Arabia, and a fintech startup in the UK. These deals showcased the company’s diverse range of offerings, from IntellectAI’s Magic Submission to Intellect’s prestigious IDC Banking platform.

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