Intellect Design Arena reports total revenue of Rs 2,513cr for FY24
Intellect Design Arena Ltd, a leading cloud-native, multi-product FinTech company serving top banking and insurance clients globally, has announced its financial results for the fourth quarter and the entire fiscal year 2024. Despite a challenging market environment, the company has shown commendable financial performance with significant annual growth.
Q4 and Annual Revenue Breakdown:
– Q4 Revenue: In Q4 FY24, Intellect reported a total revenue of INR 612 Crores, slightly down from INR 621 Crores in Q4 FY23.
– Annual Revenue: For the full fiscal year, the revenue stood at INR 2,513 Crores, demonstrating a robust growth of 12% year-over-year.
Profit and Margins:
– Q4 Profit After Tax: The company recorded a profit after tax (PAT) of INR 85 Crores in Q4, adjusted for a one-off MAT credit write-off.
– Annual Profit After Tax: The PAT for FY24 reached INR 334 Crores.
– EBITDA: Earnings before interest, taxes, depreciation, and amortization (EBITDA) for FY24 was INR 549 Crores, constituting 22% of the total revenue.
The company also reported growth in its license, platform, and annual maintenance contract (AMC) revenues, with the license revenue increasing by 35% year-over-year. This reflects Intellect’s strong product offerings and its ability to secure new deals despite market volatilities.
Intellect has not only excelled in financial performance but also in expanding its product offerings. The company launched three new platforms powered by its eMACH.ai technology suite, which now includes Intellect Corporate Procurement Exchange (iCPX), Intellect Government Procurement (iGPX), and Intellect Account Payable Exchange (iAPX). These platforms aim to streamline procurement and accounts payable processes for large corporations and governments, marking a significant step in Intellect’s commitment to digital transformation.
Arun Jain, Chairman and Managing Director of Intellect Design Arena Limited, highlighted the transformative impact of eMACH.ai, stating, “eMACH.ai is a foundational and disruptive suite designed to dramatically simplify the banking and insurance technology world. With over 1757 APIs, our Open Finance Vault is poised to deliver customer-desirability based solutions efficiently.”
Intellect Design Arena’s FY24 results and strategic expansions underscore the company’s resilience and innovative edge in the competitive FinTech landscape. By focusing on customer-centric digital transformations and expanding its technological suite, Intellect is well-positioned to continue its growth trajectory and strengthen its market position.