Intellect Design Arena reported a 36% increase in net profit to Rs 93 crore for the quarter ending on June 30 for the current fiscal year against the Rs 69 reported in Q1FY23.

The operating revenue saw an 18% jump YoY to Rs 639 crore against the Rs 541 crore reported in the same quarter of the previous fiscal year.

The EBITDA level grew by 23.1% against 21.6% in the corresponding quarter of last year.

The company has closed 11 deals in the June quarter, including OTP Bank selecting Intellect’s prestigious IDC Banking platform, Aspen opting to use IntellectAI’s Magic Submission and others.

One of the leading banks in the Kingdom of Saudi Arabia has adopted iGTB’s DTB solution, and a UK fintech startup has chosen intellectAI;s Magic Invoice.

On July 28, the share of Intellect Design Arena reached a new 52-week high of Rs 689 apiece on NSE.

At 12:30 pm, the share was trading at Rs 676.90 or 17.27% above its previous close on NSE.