Intellect Design - Revenue In-Line, Stable Cost, Associate Leads Q3 Profitability Beat: Dolat Capital
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Dolat Capital Report
Intellect Design Arena Ltd. reported 15.2% YoY growth in dollar revenues to $52 million in-line with our estimates and a continued improvement in Ebit margins at 20.6% (up 153 basis points QoQ) versus our estimate of 19.1% led by stable costs (flat QoQ at $40 million, down 15% on YoY basis).
Commentary remains confident on sustaining revenue traction in the near future, given its strong deal win momentum (10 deal wins including six large deal), order book traction (up 6.9% YoY to Rs 12 billion), large funnel (pursuit $564 million – up 13% YoY) with improving win rates.
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