Gearing the company towards a USD 300 million run rate: Intellect Design Arena
PTI, Jan 28, 2022, 5:59 PM IST
Chennai: Intellect Design Arena Ltd, a cloud-native, multi-product financial technology company, was gearing towards reaching USD 300 million run rate and have made investments in the last two quarters, a top company official has said.
The company had clocked Rs 1,009 million as net profit for the quarter ending December 31,2021 as against Rs 804 million reported in the same period of last quarter.
Revenue during the quarter grew to Rs 5,083 million registering a 33 per cent year-on-year growth, a company statement said.
”I am delighted to see our strategy of Composable and Contextual technologies translating into financial results. As per the plan announced during the first quarter results, we are gearing the company towards a USD 300 million run rate and have made investments in the last two quarters”, company Chairman Arun Jain said.
”Year To Date EBITDA (Earnings Before Interest Taxes, Depreciation and Amortization) has grown by 38 per cent over the last nine months while retaining calibrated investments for the growth agenda”, Jain, also the Managing Director of the company, said.
Net profit for the year to date ending December 31,2021 stood at Rs 2,538 million as against Rs 1,822 million in same period last financial year.
Total revenue for the year to date period ending December 31, 2021 was at Rs 13,688 million as against Rs 10,999 million in same period last financial year.
Intellect Design Arena Ltd chief financial officer Venkateswarlu Saranu said, ”this quarter business generated net cash of Rs 1,695 million on the back of good project deliveries. We are able to deliver year to date (YTD) growth of 24 per cent exceeding our forecast..”
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