Intellect Design Arena's Q4FY24 Results:

Shares Dropped 15.5% Amidst Revenue Decline

Share Market Today

Shares of Intellect Design Arena fell 15.5% due to weak Q4FY24 earnings, with net profit down 6.6% YoY.

The Chennai-based fintech company reported a 1.4% YoY drop in revenue, mainly due to the termination of the GeM contract.

Despite recent losses, the stock has delivered impressive 124% returns over the past year, outperforming Nifty50.

Intellect Design Arena's EBITDA margins remained flat YoY, but employee expenses rose by 15%, affecting profitability.

The company plans to improve future margins after exiting the GeM contract and projects a 15% revenue growth for FY25.

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