Intellect Design Arena hit an upper circuit of 5% at Rs 195.30 after the company announced a large deal win from Saudi Arabia's Samba Financial Group.
Samba Financial Group has selected Intellect Global Transaction Banking (iGTB)'s Digital Transaction Banking (DTB) solution to power its digital transformation initiatives to strengthen its corporate offering and help attract more customers. The solution will help the bank become more competitive, streamline internal processes and, in turn, generate additional revenue streams.Samba Financial Group is one of the Saudi Arabia's largest and most acclaimed financial services groups.
Intellect Design Arena, a specialist in applying true digital technologies, is the a full spectrum banking and insurance technology products company, across global consumer banking, central banking, global transaction banking (iGTB), risk, treasury and markets, and insurance.
The company reported a consolidated net profit of Rs 42.61 crore in Q1 June 2020 as against a net loss of Rs 1.88 crore in Q1 June 2019. Net sales during the quarter rose 0.9% YoY to Rs 345.89 crore.
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