Intellect Design ran up a higher consolidated net loss of Rs 13.83 crore for the September quarter. It clocked a net loss of Rs 7.94 crore during the corresponding period of the previous year. Total revenue for the second quarter to September 2016 increased to Rs 231 crore, from Rs 207 crore during the year-ago period.
In constant currency terms, dollar revenue is seen at USD 35.83 million as compared to USD 31.94 million in the corresponding period last year, a 12 per cent year-on-year growth. The company noted 18 digital-led order wins in the reported quarter. The current funnel (active pursuits) of Intellect is approximately USD 484 million, of which USD 429 million is accounted for by 250 opportunities, it said.
S Swaminathan, Chief Financial Officer informed that in the current environment of global volatility, the company has delivered growth in this quarter. Their portfolio approach to business provides them the assurance of growth. Given the pay-off of a portfolio approach, they would continue to make investments in order to build deeper moats around their products.
The company's board has approved raising of funds via issue of equity shares to the current shareholders through a rights issue. The terms and conditions of the rights issue involves the timing of issue, quantum of offer, issue price, rights entitlement ratio, record date and different matters shall be decided in consultation with the lead manager to the rights issue. In the mentioned quarter, Europe accounted for 33 percent of Intellect's revenues, the rest of the world 36 percent, India 18 percent and the Americas 13 percent.
On 3rd Nov, Intellect Design share price closed below 8 per cent at Rs. 168.55. The stock opened at Rs. 183.00 and was trading at Rs. 167.60. Dynamic Levels have identified Intellect Design is one of the top 500 stocks for this quarter on account of its strong fundamentals.
No comments:
Post a Comment