Intellect Design Arena expects a minimum 15% increase in its revenue during the second half of the current fiscal year, thanks to its strong project pipeline and outstanding performance in the artificial intelligence (AI) sector, said Arun Jain, the Chairman and Managing Director.

Previously, the financial technology company had set a growth guidance of 15-20%.

In the second quarter, the company's revenue grew 17% year-on-year to ₹619 crore, while its EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin improved to 19.7% from 15.9% last year.

Jain said there was some impact on margin due to the postponement of two significant deals to the next quarter.

Shares of Intellect Design Arena were have declined more than 4% over the past month.

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(Edited by : Shweta Mungre)

First Published:Oct 30, 2023 3:39 PM IST