Intellect Design Arena Ltd, the Chennai-based FinTech company for banking and insurance clients, reported a 25 per cent increase in net profit to ₹100 crore for the third quarter ended December 31, 2021 as against ₹80 crore for the same period last year. Revenue increased by 33 per cent to ₹ 501 crore.

The annualised recurring revenues touched ₹ 686 crore on an annual basis, says a press release. Saas/Cloud revenue in Q3 was ₹89 crore, a 113 per cent year on year.

Licence and subscription

Licence-linked revenue (Licence + SaaS/Subscription + AMC) was 56 per cent of total revenues as against 54 per cent of total revenues in Q3 FY21, the release said.

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Arun Jain, Chairman and Managing Director, Intellect Design Arena, said, “I am delighted to see our strategy of Composable and Contextual technologies translating into financial results. As per the plan announced during the first quarter results, we are gearing the company towards a $300 million run rate and have made investments in the last two quarters.”