Chennai, Jan 28 (IANS): Financial technology major Intellect Design Arena Ltd on Monday said it closed the third quarter of the current fiscal with 10 per cent growth in after tax profit.

In a statement issued here the company said it had registered a net profit of Rs 13.38 crore for the quarter ended December 31, 2018 up from Rs 12.16 crore posted during the previous year corresponding quarter.

Intellect Design Arena's total revenue for the period under review was at Rs 377.94 crore, up from Rs 266.14 crore earned during the quarter ended on December 31, 2017.

"The achievement of 42 per cent revenue growth on YoY (year-on-year) basis and 38 per cent growth on nine months basis establishes our business stability and is a clear evidence of sustainable growth. Our continued investments in Cloud has resulted in revenue of Rs 20 crore which crosses five per cent of total revenue," Arun Jain, Chairman and Managing Director, was quoted as saying in the statement.

"We are still investing Rs 10-15 crore in a quarter on subscription based deals because of lag between contract signing and revenue accruals in the books," he added.