Intellect Design slips 6%

Intellect Design Arena is the top loser on the BSE since morning. The stock has fallen after 6 days of consecutive gain. The stock price slipped 6% to Rs.216.55. Its 52-week low is at Rs.151.10 and high at Rs.283.20.

There is profit booking on the counter after the company posted its numbers for Q4FY19, which were actually very encouraging.

Its net profit for the quarter rose over 200% (QoQ) to Rs.41.50 crore on a 5.6% jump in revenue at Rs.396 crore.

Operating profit showed a fantastic 174% jump at Rs.35.6 crore and margin jumped up from 3.5% to 9%.

What really helped boost the earnings for the quarter were three deals in North America and its revenue from license business umped up 67%.

What dampened the spirits of the market was the CMD saying that going ahead, it would be difficult to maintain the same level of growth in FY20 and it expects an annualized growth rate of 20% and hopefully keep intact a 13% margin for next two years.