EBITDA stood at Rs. 16 Cr registering positive growth. Healthy Collections for two quarters in a row.
Intellect Design Arena Ltd, a digital technology product solutions provider across banking, financial services and insurance industry, announced its first quarter results for FY 2017-18 today.
Q1 FY 18 Financial Highlights:
Average USD – INR Conversion rate for the quarter (1st Apr 2017 – 30th Jun 2017) stands at Rs. 64.46
IBS Intelligence Annual Sales League Table 2017, ranked Intellect as #1 best selling Digital Core in Retail Banking Systems, #1 best selling Payment System and #2 best selling Digital Banking Exchange
Independent Research Firm, Forrester Research Inc. recognised Intellect as ‘Global Pursuer’ and a ‘Global Player’ in its 2017 Forrester Global Banking Platform Deals Survey.
Arun Jain, Chairman and Managing Director, Intellect Design Arena Limited said, “We are consistently winning deals with financial institutions worldwide and this is a validation of our technology, delivery and customer engagement. Our proactive investments in building next generation technologies like Digital on Native Cloud, Artificial Intelligence on Big Data have placed Intellect in a premium position. Intellect being rated #2 in Digital Banking by IBS Intelligence globally is yet another endorsement of the customer experience provided by us among crowded competition.”
S Swaminathan, Chief Financial Officer, Intellect Design Arena Limited, said, “We are happy to observe for the second consecutive quarter, the cost and cash management initiatives have been sustained in delivering positive EBITDA as well as reduction in DSO days.”
Our Company’s issue of equity shares to its shareholders, of INR Rs. 198.97 crores, (Issue) opened for subscription on July 26, 2017 and closed on August 9, 2017. The equity shares to be issued pursuant to the Issue are, on finalisation of the basis of allotment and subject to receipt of final approvals, expected to be listed within the timeframe prescribed by applicable regulations.
Function wise classification of statement of Profit and Loss Account (Consolidated Unaudited)
Rs. In Lakhs
PARTICULARS |
QUARTER ENDED |
YEAR ENDED |
||
June 30, 2017 |
March 31, 2017 |
June 30, 2016 |
March 31, 2017 |
|
INCOME |
||||
Revenue from Operations |
24,116.80 |
25,035.15 |
20,580.25 |
91,357.50 |
EXPENDITURE |
||||
Software development expenses |
12,255.40 |
12,465.39 |
10,122.64 |
46,326.00 |
Selling & marketing and General & Administrative expenses |
8,627.22 |
8,559.52 |
10,127.20 |
39,102.94 |
Research & Engineering expenses |
1,424.27 |
1,673.69 |
1,429.35 |
7,192.08 |
Provision for Debts and Write offs |
195.00 |
772.14 |
126.00 |
1,233.16 |
Total Expenditure |
22,501.89 |
23,470.74 |
21,805.19 |
93,854.18 |
EBITDA |
1,614.91 |
1,564.41 |
(1,224.94) |
(2,496.68) |
Depreciation/Amortisation |
588.80 |
600.58 |
591.13 |
2,413.99 |
Finance Charges |
418.39 |
402.50 |
161.09 |
1,130.24 |
Profits / (Loss) before other income / minority interest |
607.72 |
561.33 |
(1,977.16) |
(6,040.91) |
Other Income including exceptional items |
298.64 |
177.98 |
1,572.97 |
3,429.72 |
Minority Interest / Share of profit / (loss) of Associate Companies |
(469.32) |
31.98 |
125.28 |
656.24 |
Profit / (Loss) before tax |
437.04 |
771.29 |
(278.91) |
(1,954.95) |
Provision for taxation |
363.24 |
(705.87) |
350.00 |
283.63 |
Profit / (Loss) after tax |
73.80 |
1,477.16 |
(628.91) |
(2,238.58) |
Investor Conference Call
Intellect Design Arena Ltd. will not host an Investors Conference Call on the financial results of the Company for the quarter ended 30th June, 2017 after the Board Meeting on 11th August 2017 in view of the company going through the process of the Rights Issue.
Intimation on the new date of the Investor Conference Call for Q1 Results will be communicated as soon as the listing and trading approval of the Rights Shares gets completed.
About Intellect Design Arena Limited
Intellect Design Arena Ltd, a digital technology product solutions provider to the Banking, financial services and Insurance industry, across Global Consumer Banking (iGCB), Central Banking, Global Transaction Banking (iGTB), Risk, Treasury & Markets (iRTM) and Insurance (Intellect SEEC). Intellect has created digital products & solutions for Banking and Insurance. FinTech 8012, a design centre for financial technology, reflects Intellect’s commitment to continuous and impactful innovation, addressing the growing need for digital transformation. With over 200 implementations, the company’s performance is driven by over 4,000 Intellect solution architects, functional and technology experts, with a presence in global financial hubs around the world and supported by design centres in multiple geographies. Please visit https://www.intellectdesign.ca/
Disclaimer
‘Intellect Design Arena Limited is in the process of rights issue of its equity shares which is subject to receipt of requisite approvals, market conditions and other considerations, and has filed the letter of offer with the stock exchanges. The Issue opened for subscription on July 26, 2017 and closed on August 9, 2017. The letter of offer is available on the website of SEBI at www.sebi.gov.inas well as on the website of the lead manager at www.sparkcapital.in