India's of Intellect Design Arena plunges on Q4 profit fall

Intellect Design Arena

10/05/2024 05:36

** Shares of Intellect Design Arena  INEE.NS  down as much
as 15.7% to 864 rupees, their biggest intraday drop since March
2020
    ** The software services provider reported a 19.5% Y/Y fall
in its March-qtr consolidated net profit to 729.7 mln rupees 
($8.7 mln)
    ** Revenue from operations fell marginally by 0.3% Y/Y 
    ** More than 2 mln shares change hands by 10:04 a.m. IST, 4x
the 30-day moving avg
    ** INEE on track to snap three straight weeks of gains, if
trend holds 
    ** Including session's move, stock is up 6.5% YTD 


($1 = 83.4925 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))