Intellect Design posts Rs 59 crore net profit for Q2

Chennai, Oct 30 (IANS) Financial software technology company Intellect Design Arena Ltd on Friday said it closed the second quarter of this fiscal with a net profit of Rs 59.2 crore.In a statement issued here, Intellect Design said it had posted a net profit of Rs.59.2 crore on a consolidated basis for the period ended September 30, 2020 as against a net loss of Rs 17 crore posted during previous year corresponding period.During the period under review the company had earned a revenue of Rs 373 crore up from Rs 327.5 crore.According to Intellect Design, the licence revenue logged a healthy growth of 131 per cent at about Rs 98.5 crore. The revenue from annual maintenance contract (AMC) was about Rs 74.8 crore and from cloud/software as a service (SAAS) was about Rs 34.5 crore.The company's total debt stood at about Rs 70.7 crore down from about Rs 230.2 crore during the corresponding period previous year.Intellect Design has a total order backlog of about Rs 1,194 crore (licence, AMC and implementation) at the end of second quarter.

--IANS vj/sdr/