Shares of Intellect Design Arena, the Chennai-based software services company, fell as much as 10.43% in two trading sessions to hit an intraday low of ₹813.35. According to reports from Upstox, the stock experienced a 7.53% decline in intraday deals amid spike in trading volumes. As of 11:09 am, the shares were trading 6.73% lower at ₹825, underperforming the NIFTY 500 index which was down 0.34%. The decline came as part of broader market volatility, with the BSE Sensex closing at 80,722.94 points, down over 1,500 points or nearly 2%, while the Nifty 50 is seen facing immediate resistance at 25,000 points and finding support at 24,500 points.
Intellect Design Arena reported a standalone loss of ₹7.20 crore in the third quarter of the current financial year, compared with a net profit of ₹34 crore in the same period last year. As reported by Upstox, the company's revenue from operations declined nearly 2% to ₹381 crore compared with ₹387 crore in the year-ago period. During the quarter, the company incurred a one-time exceptional expense of ₹8.5 crore on account of implementation of new labour codes. The results reflect the impact of regulatory changes and operational challenges faced by the company.
Despite the financial challenges, Intellect Design Arena launched the world's only AI-first payments platform during the quarter. According to the company's statement, this platform enables institutions to move beyond incremental upgrades and design payments systems that deliver speed, resilience, and competitive advantage at scale. The company also announced that its artificial intelligence platform, Purple Fabric, onboarded 14 Value Discovery Partners across India, Africa, Europe, the UK, APAC, and Canada to accelerate AI-First value discovery.
Arun Jain, Chairman and Managing Director of Intellect Design Arena, highlighted the company's achievements, stating that crossing ₹3,000 crore in Last Twelve Months revenue, expanding EBITDA by 33% year-on-year and maintaining cash reserves at ₹1,198 crore marks a defining moment in the company's business design algorithm. As reported by Upstox, Jain emphasized that the company has three sustainable and growth businesses in the form of wholesale banking, consumer banking and IntellectAI to capture three opportunity trends.
