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Intellect Design Arena cracks after revealing weak scorecard

In an interview with CNBC-TV18, managing director Arun Jain said high inflation in the European market had hit the company slowing down decision-making

October 31, 2022 / 02:00 PM IST

Shares of Intellect Design Arena cracked in early trade on October 31 hitting a 52 week low after a weak September quarter saw the firm's margin contract 10 percent.

The company posted net profit of Rs 45.767 crore for the period in review as against Rs 68.77 crore a quarter ago.

In an interview with CNBC-TV18, managing director Arun Jain said high inflation in the European market had hit the company slowing down decision-making.

But he clinged on to the margin guidance of 20 percent for the financial year.