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Intellect Design Arena Q3 net profit at Rs 12.16 cr

twitter-logoPTI | January 30, 2018 | Updated 22:42 IST

New Delhi, Jan 30 (PTI) IT firm Intellect Design Arena today said it has posted a consolidated net profit of Rs 12.16 crore for the December quarter this fiscal.

The Chennai-based company had reported a net loss of Rs 16 crore during the same period of the previous year, Intellect Design Arena said in a statement.

Its revenue from operations increased to Rs 270.67 crore in the said quarter as against Rs 226.45 crore in the year-ago period, it added.

The companys revenues for January-December 2017 crossed the Rs 1,000 crore-milestone and stood at Rs 1,031 crore.

"The achievement of Rs 1,000 crore mark in CY2017 establishes our business stability and is a palpable evidence of sustainable growth," Intellect Design Arena Chairman and MD Arun Jain said.




* 6Degree raises $400,000 from IAN and TAN Advisors

6Degree, a fashion talent and tech startup, today said it has raised USD 400,000 from IAN (Indian Angel Network) and TAN Advisors? The Angel Network in a pre-series A round funding.

"The amount will be utilised in expanding the team, upgradation of the technology and in expanding the reach of the company," a statement said.

In 2016, 6Degree had raised about USD 200,000 from IAN.

"In the last financial year, we had clocked the revenue of Rs 3.1 crore and before the close of the current financial year, we aim to reach about Rs 5 crore and achieving an EBITA positive figure," 6Degree co-founder and CEO Nikhil Hegde said.




* * Chrysalis raises funding from Gray Matters Capital

Chrysalis, a Chennai-based educational reform organisation, today said it has raised pre-series A funding from Gray Matters Capital.

The amount raised will be used to build on research and development, and to strengthen multichannel approach, Chrysalis (incorporated as EZ Vidya) said in a statement. PTI SR BAL

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