Intellect Design Arena narrows Q2 loss

: Intellect Design Arena Ltd, a Polaris Group company, has reported a net loss of Rs 7.94 crore for the three month period ending September 30.
The Chennai-based company had posted a higher net loss of Rs 27.09 crore during the same period of the previous year, Intellect Design Arena said in a statement.
Total revenue for the second quarter ending September 30 2015 grew to Rs 207.32 crore, from Rs 143.83 crore registered during the year ago period.
"The second quarter and half year financial performance gives us the confidence of upgrading the guidance to 26-30 per cent growth compared to the earlier levels of 22-26 per cent growth", Intellect Design Arena Ltd, Chief Financial Officer, S Swaminathan said.

"We continue our focus on operating costs in order to meet our guidance of break-even in Q4, while sustaining our investments in new digital platforms, technologies and market opportunities", he said.
The company's Research and Development investments for the quarter ending Sept 30, 2015 stood at Rs 33.8 crore, in line wit the planned annual investments of Rs 130 crore.
"The investments made in digital technologies, structure and leadership has started delivering the desired results. We have invested considerable efforts into the design of products perfectly tailored for the digital and experience economy", Intellect Design Arena Ltd, Chairman and Managing Director, Arun Jain said.