IT software company Intellect Design Arena announced Q2FY23 results:
- Total Revenue LTM Q2 FY23 stood at Rs. 2,087 crore as against Rs.1,640 crore in LTM Q2 FY22 - grew 27% YoY.
- Platform, License and AMC Revenue:
- Platform revenue of LTM Q2 FY 23 is Rs. 448 crore as against Rs. 276 crore in LTM Q2 FY22 - grew 62% YoY
- License Revenue of LTM Q2 FY23 is Rs. 338 crore as against Rs. 342 crore in LTM Q2 FY22
- AMC Revenue of LTM Q2 FY23 is Rs. 346 crore as against Rs. 311 crore in LTM Q2 FY22 - grew 11% YoY
- License linked revenue (License + Platform + AMC) is Rs. 1,132 crore in LTM Q2 FY23 as against Rs. 929 crore in LTM Q2 FY22 - grew 22%YoY
- Annual Recurring Revenue - ARR (on an annualised basis) is at Rs. 794 crore in LTM Q2FY23 as against 587 crore in LTM Q2FY22 - grew 35% YoY
- Gross Margin and EBITDA:
- Gross Margin is Rs. 1166 crore in LTM Q2 FY23 as against Rs. 931 crore in LTM Q2 FY22.
- EBITDA is Rs. 455 crore in LTM Q2 FY23 as against Rs. 417 crore in LTM Q2 FY22.
- Net Profit is Rs. 311 crore in LTM Q2 FY23 as against Rs. 314 crore in LTM Q2 FY22
Arun Jain, Chairman and Managing Director, Intellect Design Arena Limited, said, “In spite of the current market uncertainty driven by high inflation rates and currency volatility, we have delivered a 27% YoY revenue growth for LTM Q2FY23. We also have a visibility of an annual growth of 20% for FY23. We continue to be excited about our journey on cloud-based platforms as we launch new ones and mature the existing ones. This new business in conjunction with our product businesses provides us an opportunity to continue to grow our company. We view each of these platforms as an equivalent of a fintech with a large TAM and an extreme focus on delivering value for its customers by leveraging our superior market leading MACH technologies.”
Venkateswarlu Saranu, Chief Financial Officer, Intellect Design Arena Limited, said, “Our platform revenue on LTM basis has grown 62% over last year, while during the same period, our ARR on LTM basis has grown over 35%. Both of these are very important metrics in our business model demonstrating growth on an annualized and sustained basis. During the last couple of quarters, we as an Industry have seen an increase in talent costs and invested in expanding platform business as well, which has impacted our profits. We are seeing some early trends in stabilization of thee talent costs. We continue to be excited about the market opportunity and are positioning our company for growth on a sustained basis.”