Intellect Design Q2 PAT up 34 pc to Rs 79 cr

IT company Intellect Design Arena on Thursday posted a 33.7 per cent increase in consolidated profit after tax at Rs 79.2 crore for the second quarter ended September. The company had registered a profit after tax PAT of Rs 59.2 crore in the same period a year ago.

IT company Intellect Design Arena on Thursday posted a 33.7 per cent increase in consolidated profit after tax at Rs 79.2 crore for the second quarter ended September. The company had registered a profit after tax (PAT) of Rs 59.2 crore in the same period a year ago. Total income increased by 21.6 per cent to Rs 452.1 crore during the reported quarter from Rs 371.8 crore in the corresponding period of 2020-21. ''Intellect's technologies have driven calibrated and profitable growth over the last 8 quarters,'' Arun Jain, chairman and managing director, Intellect Design Arena, said in a statement. He further said the company launched two platforms on cloud during the reported quarter -- iKredit360 and iGTB Cloud -CashPower '22. ''Both platforms have helped Intellect win 6 platform deals in this quarter. This is the beginning of Intellect's transition from a Product company to a Fintech Platform,'' Jain said. Venkateswarlu Saranu, chief financial officer, said the company is confident of growing over 20 per cent for the current year.

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