IT company Intellect Design Arena on Thursday posted a 33.7 percent increase in consolidated profit after tax (PAT) at Rs 79.2 crore for the second quarter ended September. The company had registered a PAT of Rs 59.2 crore in the same period a year ago. Total income increased by 21.6 percent to Rs 452.1 crore during the reported quarter from Rs 371.8 crore in the corresponding period of 2020-21.

Arun Jain, CMD of Intellect Design Arena, said, “We are very delighted to see the results are in line, the products are getting stabilised, performance of 22 percent is coming in so that is the first level of stabilisation. Our target is plus 20 percent growth for this whole year.”

On margins, he said, “Now the margins have come back 2 percent up to 26 percent. So, we are now looking at it that we can do it 30 percent. So, we are revising back to 30 percent.”

"Intellect's technologies have driven calibrated and profitable growth over the last 8 quarters," said Jain in a statement.

He further said that the company has launched two platforms on cloud during the reported quarter -- iKredit360 and iGTB Cloud -CashPower '22. "Both platforms have helped Intellect win 6 platform deals in this quarter. This is the beginning of Intellect's transition from a Product company to a Fintech Platform," Jain said.

On platform business, he added, “Investment what we made as a strategy for years back is panning out the way we designed, so we had a technology day session where we announced that we will be moving to platform. We announced to platform last quarter and so it became four platforms now, one is underwriting platform where people can on board and it is in US."

"Second platform is a GeM platform Government of India purchases which happens, third platform is Kredit360 and fourth is iGTB Cloud -CashPower and we have singed 6 platform deals in this quarter. It is a very, very high traction business and accelerating the overall business.”

On hiring, Jain said, “We are not a service business where need to have for our growth, our hiring is in the range of 500 or 100s not in 1,000 what any IT companies are looking at.”

For full management commentary, watch the video.

-With PTI inputs

(Edited by : Bivekananda Biswas)

First Published:Oct 29, 2021 3:50 PM IST