Shares of Intellect Design Arena, a software and consulting firm, zoomed over 18 per cent in Friday's trading session to hit a 52-week high of Rs 684.95 apiece on the BSE. The stock was in demand after the company reported an encouraging numbers for the June quarter.

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At around 11:30 AM, shares of Intellect Design Arena were trading 17.57 per cent higher at Rs 677.7 apiece on the BSE. The stock snapped a seven-day losing streak and the market capitalisation of the company stood at Rs 9,236.54 crore. 

Intellect Design Arena Q1 results and order details

The software and consulting firm posted a 36 per cent rise in PAT at Rs 93 crore against Rs 68.77 crore a year ago. The total revenue of the company stood at Rs 644 crore against Rs 540.46 crore year-on-year (YoY).

The company's earnings before interest, taxes, depreciation, and amortisation, or EBITDA, stood at Rs 155.07 crore against Rs 116.16 crore YoY. Margins, a key measure of profitability, for the June quarter stood at 23.1 per cent against 21.6 per cent YoY.

Apart from this, Intellect Design Arena won 11 deals in the quarter. Some of the significant agreements were with Aspen to use IntellectAI’s Magic Submission, OTP Bank selecting Intellect's prestigious IDC Banking platform, and others. A leading bank in the Kingdom of Saudi Arabia has adopted iGTB's DTB solution, and a fintech startup located and operating in the UK has chosen IntellectAI's Magic Invoice.

The company also disclosed that Vasudha Subramaniam, Senior Vice President and Financial Controller of our company, has been approved for appointment as Chief Financial Officer of the firm, effective September 1, 2023.

What analysts say

"At the current juncture, Intellect Design has taken out its previous swing high of Rs 654 and sustained well above it. Though the said counter looks lucrative at current levels due to the recent up-move, one needs to wait for Rs 655 to add new longs for a target price of Rs 725, and support is expected near Rs 620," said Jigar S Patel, Senior Manager, Technical Research Analyst, Anand Rathi Shares and Stock Brokers.

Intellect Design Arena share price: Past performance 

So far in 2023, shares of Intellect Design Arena have gained over 52 per cent against the Nifty50's rise of nearly 8 per cent. 

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