The shares of the financial platform provider for Corporate Banking gained up to 7 percent after the company announced the launch of its first principal technology suite for technology-suave bankers.
With a market capitalization of Rs 12,905.23 crore, the shares of Intellect Design Arena Ltd were trading at Rs 944.10 per share, increasing around 5.63 percent as compared to the previous closing price of Rs 893.80 apiece.
According to the company filing, IIntellect Design Arena Ltd has announced the introduction of its first major technology suite, eMACH.ai, for technology-savvy bankers in the Middle East and Africa. eMACH.ai provides banks with 329 microservices, 1,757 APIs, and 535 events to create future-ready technological solutions.
Furthermore, this suite of First Principles Technology maintains a bank’s client in mind, whether they are Retail, HNI, SME, or Corporate, and the events in their financial journey, as well as those caused by bank operations or regulators and compliance.
Looking at the company’s financials, Intellect Design Arena Ltd’s sales grew by 16% from Rs 547 crore in Q2FY23 to Rs 634 crore in Q2FY24. During the same period, net profit rose by 35% from Rs 63 crore to Rs 85 crore.
The company’s revenue from India climbed by 16% from Rs 491.2 crore in FY2021-22 to Rs 571.3 crore in FY2022-23, while revenue from outside India increased by 20% from Rs 1,386.9 crore in FY2021-22 to Rs 1,659.8 crore.
Ace investor Mukul Mahavir Agrawal holds 23,00,000 shares, i.e. equivalent to 1.68 percent of the company as of December quarter 2023.
It has delivered returns of 35.16 percent in the last six months and a multi-bagger return of 105.09 percent in a year. A shareholder’s investment of Rs. 1 Lakh in the company would be worth Rs. 2.05 Lakh in a year.
Intellect Design Arena Limited is a global financial technology company that specializes in banking, insurance, and other financial services. The company provides a wide range of products in Global Consumer Banking, Central Banking, and others.
Written by:- Abhishek Singh
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