Intellect Design Arena Ltd, a city-based fintech provider, reported a net profit of ₹12 crore for third quarter ended December 31, 2017, as against a net loss of ₹16 crore for same period last year.

Revenue in December quarter increased by 19 per cent to ₹270 crore (₹226 crore).

Investment made over the last three years in product development, and sales and marketing for global presence and acceptance have contributed in driving revenue in the last year. Once threshold of scale was reached, ‘we have started delivering positive bottom line over the last four quarters,’ S Swaminathan, Chief Financial Officer, Intellect Design, told Business Line.

Cost-management-cost-generation measures rolled out in beginning of this financial year contributed in positive EBITDA,, he was quoted in a company press release.

Revenue for the calender year 2017 crossed ₹1,000 crore and stood at ₹1,031 crore, the release said.

In a span of 12 quarters, Intellect’s revenue jumped from ₹577 crore in 2014 to ₹1,031 crore in 2017, said Arun Jain, Chairman and Managing Director, Intellect Design, in the release.

“This growth confirms our position as a leading global fintech player, validating our strategy, direction and endorsing our execution capabilities. With critical size and investments built into current cost structure, the new revenues will drive higher margins,” he said.

The company’s stock price on the Bombay Stock Exchange closed at ₹162.40, down by 7.23 per cent.

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