Intellect Design Arena posts impressive 19% YoY revenue growth in Q1 FY24

Intellect Design Arena Ltd, an Indian financial technology company serving top banking and insurance clients worldwide, has announced its first-quarter results for FY24. The company reported a 19% YoY growth in total revenue, standing at INR 644 Cr for Q1 FY24, as compared to INR 540 Cr in Q1 FY23.

In terms of platform, license, and AMC revenue, the company saw robust growth across all areas. Platform revenue increased by 21% YoY to INR 141 Cr from INR 116 Cr in Q1 FY23. License revenue jumped by an impressive 46% YoY, recording INR 112 Cr as against INR 77 Cr in Q1 FY23. Additionally, AMC revenue grew by 22% YoY, reaching INR 106 Cr in Q1 FY24 from INR 87 Cr in Q1 FY23. Collectively, license linked revenue (License + Platform + AMC) also saw a substantial growth of 28% YoY, standing at INR 359 Cr in Q1 FY 24 as compared to INR 280 Cr in Q1 FY23.

The EBITDA for Q1 FY24 rose to INR 155 Cr, marking a 33% YoY growth from INR 116 Cr in Q1 FY23. Meanwhile, Profit after Tax (PAT) recorded an increase of 36% YoY, reaching INR 93 Cr in Q1 FY 24 from INR 69 Cr in Q1 FY23. The company also reported collections of INR 582 Cr for Q1 FY24.

On the business front, the company’s eMACH.ai platform acquired 11 new customers for their digital transformation journey. Additionally, 10 global financial institutions have successfully completed their digital transformations on Intellect platforms and products.

Arun Jain, Chairman and Managing Director, Intellect Design Arena Limited, hailed the company’s R&D teams and their transformative power in his statement.