12,236.2 crore, at 11:35 a.m., the shares of Intellect Design Arena Limited were trading in the red at Rs.
614 crore in Q4 FY23-24 from Rs.
634 crore in Q3 FY23-24, and decreased by 0.32 percent YoY from Rs.
614 crore in Q4 FY23-24.
73 crore in Q4 FY23-24, declining by 19.8 percent YoY from Rs.
Following the announcement of the Q4 results with a fall in net profit by 19.8 percent YoY, the share price of this small-cap IT stock moved down by 15.5 percent on BSE to hit an intraday low at Rs. 864.35 in the morning trading session of Friday, compared to its previous closing price of Rs. 1,023.15.
With a market capitalisation of Rs. 12,236.2 crore, at 11:35 a.m., the shares of Intellect Design Arena Limited were trading in the red at Rs. 893.95, down by 12.63 percent.
The fluctuations in the share prices were observed after the company announced the financial results for Q4 FY23-24 and FY24, through the recent filings with the stock exchanges on Thursday post-market hours.
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The company crossed Rs. 2,500 crore revenue mark; however, the consolidated revenue from operations slumped by 3.15 percent QoQ to Rs. 614 crore in Q4 FY23-24 from Rs. 634 crore in Q3 FY23-24, and decreased by 0.32 percent YoY from Rs. 616 crore in Q4 FY22-23 to Rs. 614 crore in Q4 FY23-24.
Intellect’s net profit stood at Rs. 73 crore in Q4 FY23-24, declining by 19.8 percent YoY from Rs. 91 crore in Q4 FY22-23, and by 14.1 percent QoQ from Rs. 85 crore in Q3 FY23-24.
Further, the Board has recommended a final dividend of Rs. 3.50 per share on the face value of Rs. 5 each on equity shares, for FY23-24, subject to the approval of shareholders, which will be paid within 30 days from the date of declaration.
As of March 2024, the ace investor Mukul Mahavir Agrawal holds 23 lakh equity shares in the company, representing a 1.68 percent stake, with a holding value of Rs. 205.4 crore.
The stock has delivered positive returns of nearly 92.3 percent in the last one year, while around 33.8 percent in the last six months. So far in 2024, the company has given about 6.7 percent of positive returns.
Incorporated in 2011, Intellect Design Arena Limited is a cloud-native, future-ready, multi-product Enterprise FinTech Company for the world’s leading banks, insurance, wealth, capital markets, procurement and accounts payable.
Written by Shivani Singh
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