Intellect Design Q3FY22 Results: Profit rose 27% QoQ to Rs 101 crore

Intellect Design Arena a cloud-native, future-ready, multi-product FinTech company for the world's leading Banking and Insurance clients, today reported a 26.95 per cent QoQ rise in the consolidated profit at Rs 101.30 crore for the quarter ended December 31, 2021. It has posted a profit of Rs 79.79 crore in the previous quarter ended September 30, 2021.

The company's consolidated revenue from operations grew 12.38 per cent to Rs 508 crore in the reported quarter compared to a revenue of Rs 452 crore posted in the previous quarter.

The company's earnings before interest and taxes (EBIT) - an indicator of a company's profitability – rose 14.66 per cent to Rs 107.9 crore compared to Rs 94.1 crore posted in September 2021 quarter. Its margin improved to 21.2 per cent in Q3FY22 compared to 20.8 per cent posted in Q2FY22.

Intellect Design Platform Deals in Q3 FY 22

• Intellect bagged a destiny deal from Asia's Leading Commercial Bank for implementing the Intellect Digital Lending platform (iKredit 360). The Bank has decided to transform its Commercial Lending platform with Intellect's Composable and API based iKredit360.
• Continuing the Vietnam leadership journey, a top 10 bank has signed up iGTB's Cash Power Platform (Digital Transaction Banking), 4 out of the top 10 banks in Vietnam now have Intellect as their FinTech partner.
• One of the top 20 global banks signed up for Virtual Accounts & Escrow in the US, the 1st deal in the US for VA & Escrow.
• A Top 25 US Bank signed up for Virtual Management & Escrow product (VA&Escrow), the 2nd deal in the US in 6 months for VA & Escrow).

Intellect Design Product Deal Wins

• Two leading central banks in Africa have chosen Intellect Quantum Central Banking Solution to power their growth ambitions and drive their Digital Transformation Agenda. The solution is specially designed to support the progressive transformation of the central banks' operations, monetary authorities and government debt office with real-time visibility of operations across the departments and nation.
• One of the top 3 banks in France signed up Cash Flow Forecasting and Investment Sweeps from iGTB's Liquidity Management Platform.
• Continuing with iGTB's Trade Platform relationship, a top 3 Austrian Bank has signed up to extend Trade product capabilities to 2 additional countries.
• A top Public sector Bank in India signed a deal with iRTM for supporting the bank with its LIBOR transition risks viz operational, financial and legal - with a well-proven solution.
• One of the largest banks in the Oceania region has signed up for Intellect's Capital Cube, a treasury solution powered by cloud-ready architecture and API-first technology.