Comments
Intellect Design Arena Ltd has reported reduced net loss of ₹12 crore for the quarter ended December 31, 2015, as against ₹16 crore in the same quarter last year. Revenue increased by 21 per cent to ₹194 crore (₹160 crore), said a company release.
Software development expense increased by 17 per cent to ₹94 crore (₹80 crore).
So far this year, the Chennai-based information technology company launched four new products, including two in the December quarter. It unveiled iGTB Release 16, including Apple Watch Support and Artificial Intelligence-powered KYC solution, and a digital distribution suite for the UK life and pension markets, the release said.
Arun Jain, Chairman and Managing Director of Intellect Design, said, “While we have grown significantly on a cumulative basis, the last quarter saw two deals which were to have closed being deferred to the next quarter. However, we are on track on the annual growth guidance as of today.”
S Swaminathan, Chief Financial Officer of Intellect Design Arena Limited, said that with the expected revenue in the fourth quarter, the company is looking forward to a break-even quarter.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.