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    Intellect Design Arena Ltd, a digital technology product solutions provider across banking, financial services and insurance industry, announced its third quarter results for FY 2016-17 today.

    I. Executive Summary

    • Revenues for the quarter ended 31st December 2016 stood at Rs. 226.46 Cr as against Rs. 193.75 Cr in the same period last year representing 17% YoY growth in INR terms
    • In dollar terms, revenue stood at $ 33.57 Mn as against $ 29.39 Mn in the same period last year representing 14% YoY Growth. Average USD – INR Conversion rate for the quarter (1st Oct 2016 – 31st Dec 2016) stands at Rs. 67.45
    • Including the order wins recorded this quarter, Intellect’s customer base stands at 208

    The above financial data is additional information on function wise classification of statement of Profit and Loss of the Group on a consolidated basis and is unaudited and has not been subjected to review

    II. Outcome of Board Meeting

    Dr. Ashok Jhunjhunwala, Chairman of Audit Committee and Independent Director on the Board is likely to take up certain assignments with Government of India in the near future and consequently resigned from the Board with immediate effect. The Board thanked Dr. Jhunjhunwala for his invaluable advice and contribution since the listing of the company in December 2014.

    III. Rely on Intellect

    Intellect went live in several financial institutions across the world. The significant implementations include:

    • Halk Bank, Turkey has gone live with Intellect Debt Management. Intellect’s Debt Management System will enable the Bank to manage its collections and recoveries more effectively and efficiently.
    • Intellect Digital Core went live in 3 financial institutions which includes one of the new small finance bank in India, a state-owned bank in Vietnam, and a bank in Cambodia.
    • A Central Bank in Africa has gone live with Intellect Lending platform. It has also implemented Intellect OneTREASURY
    • Intellect’s iGTB Digital Transaction Banking went live in 2 financial institutions in the Middle East.
    • A UK based bank has gone live with Intellect SEEC’s Risk Analyst platform. Intellect Risk Analyst is an AI based risk discovery and assessment software for commercial insurance industry.

     Financial Results for the Third Quarter Ended December 31, 2016

    Additional Information on function wise classification of statement of Profit and Loss of the Group(Consolidated Unaudited / Not Reviewed)

    Rs. In Lakhs

    Particulars

    QUARTER ENDED

    December 31,
    2016

    September 30,
    2016

    December 31,
    2015

    INCOME

    Income from software product license and related services

    226,45.69

    230,96.42

    193,74.82

    EXPENDITURE

    Software development expenses

    121,98.70

    115,39.28

    94,36.46

    Selling & marketing and  General & Administrative expenses

    103,18.57

    105,58.68

    80,31.56

    Total Expenditure

    225,17.27

    220,97.96

    174,68.02

    Profit / (Loss) before interest, depreciation & amortization

    1,28.42

    9,98.46

    19,06.80

    Research & Engineering expenses

    19,75.99

    19,87.05

    33,59.37

    Depreciation/Amortisation

    6,12.04

    6,10.24

    5,20.37

    Finance Charges

    3,25.96

    2,40.67

    26.73

    Profit / (Loss) after interest, depreciation & amortization

    (27,85.57)

    (18,39.50)

    (19,99.67)

    Other Income including exceptional items

    14,56.56

    3,68.36

    6,40.89

    Minority Interest/ Share of profit/(loss ) of Associate Companies

    1,41.77

    3,57.20

    2,27.54

    Profit / (Loss) before tax

    (11,87.24)

    (11,13.94)

    (11,31.24)

    Provision for taxation

    3,69.50

    2,70.00

    60.00

    Profit / (Loss)  after tax

    (15,56.74)

    (13,83.94)

    (11,91.24)

     

    About Intellect Design Arena Limited

    Intellect   Design  Arena  Ltd,  a  digital technology product solutions provider to the Banking and Insurance industry, across Global Consumer Banking (iGCB), Central Banking,  Global  Transaction  Banking  (iGTB),  Risk, Treasury & Markets (iRTM)  and  Insurance (Intellect SEEC). Intellect has created digital products & solutions for Banking and Insurance. FinTech 8012, a design centre for financial technology, reflects Intellect’s commitment to continuous and impactful innovation, addressing the growing need for digital transformation.  With over 200 implementations, the company’s performance is driven by over 4,000 Intellect solution architects, functional and technology experts, with a presence in global financial hubs around the world and supported by design centres in multiple geographies. Please visit https://www.intellectdesign.com/