Intellect Design up 16%

Intellect Design Arena is the top gainer on the BSE since the opening bell today morning; opening almost 4.5% higher at Rs.601.55 and rose further by 16% to an intraday high at Rs.667; coincidentally the stock had hit a high exactly same day last year at Rs.670.

The market has given the Q1FY24 earnings a big thumbs up. Consolidated net profit rose 3% (QoQ) to Rs.94 crore on a 4% rise in revenue at Rs.639 crore.

EBIT for the quarter was up 9.5% at Rs.114 crore while margins rose from 16.8% to 17.8%.

The company closed 11 deals during the current Q1.