Intrasoft, the parent company of ecommerce store 123stores, has posted revenues of Rs 218.17 crore for the quarter ended September 2016 (Q2 FY2017). This was a rise of 42% year-on-year (YoY) basis from Rs 153.97 crore, and a marginal decrease from Rs 222.17 crore in the preceding quarter. The company’s ecommerce revenues stood at Rs 215.01 crore, a marginal decrease from Rs 218.67 crore in the preceding quarter. On a year-on-year basis, the ecommerce segment reported 42.77% growth from Rs 150.59 crore in Q2 FY16. Intrasoft reported net profit of Rs 5.4 crore which is up 104% from Rs 2.65 crore in the previous quarter. In the same quarter last year, the company posted a net profit of Rs 1.66 crore. The number of orders fulfilled during this quarter increased significantly and stood at 669,714 from 377,083 orders in the same quarter last year, a growth of 77.6%. The total number of suppliers increased to 1,783 in this quarter from 1,440 in Q2 FY16. Intrasoft now has more than 5,55,000 SKUs growing 109.43.6% from 265,000 SKUs in the same quarter last year. The top three selling categories of products were furniture, patio, lawn and garden (30%), musical instruments and gadgets (25%), and home improvement and art crafts (15%); the third position was also shared by sports and outdoor category (15%). Line of Credit from UPS Capital Last month 123 stores secured $8 million ‘line of credit’ from UPS Capital, the company informed the stock exchanges through a notification. It plans to use…
