Aim to turn profitable in Q4FY16: Intellect Design CMD

Arun Jain, Chairman and Managing Director of Intellect Design in an interview to CNBC-TV18 spoke about the second quarter performance and business outlook going forward,Jain said the company is growing at a fast pace and aims to turn profitable in fourth quarter of FY16. He said with the banks accelerating their spend in the digital space, the profits of the company are likely to be good going forward.Intellect Design Arena Ltd, a Polaris Group company, has reported a net loss of Rs 7.94 crore for the three month period ending September 30.Rakesh Radheshyam Jhunjhunwala has purchased 2.24 percent equity stake in the company during July-September quarter, in addition to 3.73 percent stake already held in his wife’s name Rekha Rakesh Jhunjhunwala, as per latest shareholding data available on exchanges. He has also upped his stake in Polaris Consulting, a parent company of Intellect, to 4.99 percent from 4.74 percent during the quarter.for the entire interview watch video