Intellect Design Arena hits 52-week high on strong Q4 results

The stock hit 52-week high of Rs 217, up 11% on the BSE in early morning trade, after the company reported 27.7% quarter on quarter growth in dollar revenue for the quarter ended March 2018.

Intellect Design Arena hit 52-week high of Rs 217, up 11% on the BSE in early morning trade, after the company reported 27.7% quarter on quarter growth in dollar revenue for the quarter ended March 2018 (Q4FY18).

In rupee terms, the company reported 13.3% QoQ growth in revenue at Rs 3,070 million as against Rs 2,710 million in Q3FY17. Net profit during the quarter under review more than doubled to Rs 274 million against Rs 135 million in a previous quarter.

“The company registered a positive EBITDA (earnings before interest, tax, depreciation and amortization) which stood at Rs 786 million for FY 18 as against Rs 250 million (negative) in the last year, showing a movement of Rs 1,030 million in EBITDA,” Intellect Design Arena said in a press release.

At 10:00 am; the stock was trading 7% higher at Rs 211 on the BSE, as compared to 0.34% rise in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 1.87 million shares changed hands on the NSE and BSE so far.

Intellect Design Arena is a specialist in applying true digital technologies and a global leader in financial technology across banking and insurance.