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Total revenue for Q1 FY24 stood at Rs 644 crore as against Rs 540 crore in Q1 FY23, rising 19% year-on-year (YoY). EBITDA was at Rs 155 crore in Q1 FY24 as against Rs 116 crore in Q1 FY23, growing 33% YoY. EBITDA margin stood at 24.1% in Q1 FY24, higher than 21.5% in Q1 FY23.
Collections for Q1 FY24 were at Rs 582 crore. The platform revenue for Q1 FY24 was Rs 141 crore, compared to Rs 116 crore in Q1 FY23, showing a growth of 21% YoY. The license revenue for Q1 FY24 was Rs 112 crore, compared to Rs 77 crore in Q1 FY23, showing a growth of 46% YoY. The AMC revenue for Q1 FY24 was Rs 106 crore, compared to Rs 87 crore in Q1 FY23, showing a growth of 22% YoY. The license linked revenue (License + Platform + AMC) was Rs 359 crore in Q1 FY24, compared to Rs 280 crore in Q1 FY23, showing a growth of 28% YoY.
Meanwhile, the board has approved the appointment of Vasudha Subramaniam as the chief financial officer of the company, effective from 1 September 2023. She currently holds the position of Senior vice president and financial controller. The current chief financial officer, Venkateswarlu Saranu, will transition to a new role on the same date.
Intellect Design Arena has the world's largest cloud-native, API-led microservices-based multi-product platform for global leaders in banking, insurance, and capital markets.
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