Left Menu
Development News Edition

Intellect Design Arena posts 3qtr net loss at Rs 10.67 cr

Intellect Design Arena posts 3qtr net loss at Rs 10.67 cr
Image Credit: StoryBlocks

Intellect Design Arena Ltd, a leader in financial technology across banking and insurance sectors on Friday recorded a consolidated net loss of Rs 10.67 crore for the third quarter ending December 31, 2019. The city-based company had registered consolidated net profits of Rs 13.54 crore in the corresponding quarter last year. For the nine-month period ending December 31, 2019, consolidated net loss was Rs 23.41 crore against a net profit of Rs 89.72 crore.

Commenting on the financial performance, company Chairman and Managing Director Arun Jain said, "while current quarter revenues have been impacted by documentation challenges, we have moved up assured revenue streams of AMC and Saas". "SaaS (Software as a Service) revenues, growing by 50 percent now contribute to 10 percent of revenues against 5 percent a year ago.", he said. The company would stay focused and forge partnerships towards increasing monetization and continue to drive efficiencies, he said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.



Conspiracy theories on COVID 19: Legislators, Scientists, and Journalists all joined the Caravan

Conspiracy theories are not new for virus epidemics. There have been conspiracy theories on HIV-AIDS, Polio Vaccines, Ebola Virus, and several other diseases as well. However, what makes the 2019 Novel Coronavirus different from others is ...

Top 10 Fake News, Myths and Realities on 2019 Novel Coronavirus COVID 19

With nearly 1500 deaths by January 14 and around 65,000 infections in China, the Novel Coronavirus 2019 has become one of the worst health epidemics of the 21st Century. However, 8,573 people have been cured but the rumor mongers are a...

Handling fake news Infodemic in time of Coronavirus epidemic

Social media has provided a platform where everybody can disseminate his her views without any supervision. Its excellent if the message is genuine but misinformation is equally disastrous. Health is such a topic where every Tom and Harry c...

Sentiment Analysis on Budget 2020: Long shot for solution to economic worries?

Industries and individuals alike had high expectations from the government to take tangible steps but the budget 2020 seems to have failed expectations....


Latest News

'We're not the walking dead': Americans face coronavirus quarantine stigma

When Esther Tebeka, one of more than 1,000 Americans evacuated from China due to the coronavirus outbreak, ended her 14-day quarantine with no signs of the disease, she thought she could get on with her life.Instead, she has had people refu...

U.S.-India trade deal unlikely before Trump's India trip-business group

The United States and India are unlikely to reach a limited trade agreement in time for U.S. President Donald Trumps visit to India next week as proposed new Indian tariffs have complicated negotiations, the head of a U.S.-based business gr...

INSIGHT-Fires and climate fears rattle Australia's giant coal lobby

As bushfires and floods fuel public concerns in Australia about global warming, the countrys powerful mining lobby is facing increasing pressure from investors to drop support for new coal mines, according to a dozen interviews with shareho...

UK PM Johnson says looking forward to meeting Trump in June

British Prime Minister Boris Johnson is looking forward to meeting U.S. President Donald Trump in June, Johnsons office said after reports that an expected meeting between the two leaders in early 2020 had been postponed. Relations between ...

Give Feedback