Intellect Design Arena Ltd, the Chennai-based FinTech company for banking and insurance clients, reported a slight decline in net profit to ₹91 crore in the fourth quarter ended March 31, 2023 against ₹95 crore in the same period last year.

The company’s board has recommended a final dividend of ₹2.50 per share on the face value of ₹5 each for FY23, says a release.

Net profit for the financial year ending March 31, 2023 declined 24 per cent to ₹267 crore (₹349 crore) on a 21 per cent increase in revenue to ₹2,245 crore. For the first time, the company crossed the ₹2,000-crore revenue mark in a financial year.

Intellect launched, an open finance platform, the release said.

On the Bombay Stock Exchange, the company’s share price ended at ₹465.85, up by 1.53 per cent.