Intellect Design Arena Ltd posts consolidated PAT of Rs. 42.61 crore in Q1FY21

Intellect Design Arena Ltd has reported financial results for the period ended June 30, 2020.

Financial Results (Q1 FY 2020-21) - QoQ Comparison

The company has reported total income of Rs.353.65 crores during the period ended June 30, 2020 as compared to Rs.361 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.42.61 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.40.99 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.3.22 for the period ended June 30, 2020 as compared to Rs.3.07 for the period ended March 31, 2020.

Financials	Q1 FY2020-21	Q4 FY19-20	% Change
Total Income	₹ 353.65 crs	₹ 361 crs	-2.04%
Net Profit	₹ 42.61 crs	₹ 40.99 crs	3.95%
EPS	₹ 3.22	₹ 3.07	4.89%

Financial Results (Q1 FY 2020-21) - YoY Comparison

The company has reported total income of Rs.353.65 crores during the period ended June 30, 2020 as compared to Rs.352.55 crores during the period ended June 30, 2019.

The company has posted net profit / (loss) of Rs.42.61 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.3.40 crores for the period ended June 30, 2019.

The company has reported EPS of Rs.3.22 for the period ended June 30, 2020 as compared to Rs.0.25 for the period ended June 30, 2019.

Financials	Q1 FY2020-21	Q1 FY2019-20	% Change
Total Income	₹ 353.65 crs	₹ 352.55 crs	0.31%
Net Profit	₹ 42.61 crs	₹ 3.40 crs	1153.24%
EPS	₹ 3.22	₹ 0.25	1188%

Arun Jain, Chairman and Managing Director, Intellect Design Arena Limited "I am delighted to announce that Intellect, after completing the Product Engineering phase and the Industrialisation Phase has entered the Monetisation Phase during this quarter. In Q1 FY21, the Company moved to an effective operating cash positive position of INR 1782 Mn. I am proud of my Research & Technology team and I am happy to announce a breakthrough technology - iTurmeric (the world's first API-led digital transformation solution for banks) launched with IBM. The recognition of being Number 1 in Retail Banking and Number 1 in Wholesale Banking by IBS Annual Sales League Table 2020 is a remarkable validation of our quest for global recognition. It is also a testimony to the dedication and leadership of our employees, at all levels, during these difficult times as the company reorients itself for steady, profitable growth."

Venkateswarlu Saranu, Chief Financial Officer, Intellect Design Arena Limited said, "I am delighted that the cash burn phase is now behind us. A focused and well orchestrated strategy by the delivery team has resulted in peaking of collections at INR 4365 Mn this quarter. This has strengthened Intellect's balance sheet by being net cash positive by INR 570 Mn. I appreciate the cost efficiency brought in by Lines of Business leading to over 20% EBITDA margin for the quarter."

Shares of Intellect Design Arena Ltd was last trading in BSE at Rs.159.85 as compared to the previous close of Rs. 161.05. The total number of shares traded during the day was 36772 in over 1293 trades.

The stock hit an intraday high of Rs. 168.95 and intraday low of 159. The net turnover during the day was Rs. 6043007.

Source : Equity Bulls

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