Intellect Design shares surge over 12% as FY23 revenue crosses Rs 2,000 crore mark

Intellect Design Arena reported a 21% YoY rise in its FY23 total revenue to Rs 2,246 crore, a first in the company’s history. Quarterly, the total income stood at Rs 621 crore, up 24% from Rs 500 crore in Q4FY22. The firm’s net profit dropped to Rs 267.3 crore in FY23 from Rs 349.08 crore in FY22, while EBITDA remained flat at Rs 450 crore in Q4. Intellect Design Arena has launched an AI-powered open finance platform aiming to simplify complicated technical banking environments.