Intellect Design Arena records 25% growth in quarterly profits

Chennai:

Fintech

enterprise Intellect Design Arena has reported 25% year-on-year growth in profitability for the October-December 2021 period, as net profit stood at Rs 101 crore aided by a boom in adoption of tech by the financial services sector. Revenue came in at Rs 502 crore for the quarter compared to Rs 382 crore in the same period last year. Revenue from

SaaS

(Software-as-a Service) solutions stood at Rs 89 crore, as against Rs 42 crore last year thus growing 113% YoY. Annualised Recurring Revenues (

ARR

) have touched Rs 686 crore (almost $92 million) on an annual basis, the company said. tnn