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123Greetings.com Reports Rs. 9.36 Crore Revenues For Q2-11; Gifting Grows

IntraSoft Technologies, which owns & operates the egreetings business 123Greetings, has reported a profit after tax of Rs. 2.56 crore, up 14% year on year, and 160.8% sequentially: the company's business is seasonal in nature, and one should expect revenues to go up during the festive season. Total income for the company was Rs. 9.36 crore, up 66.59% year on year, and 19.14% sequentially. This growth could well be on account of an increase in its gifting business: the company says that they saw a considerable rise in orders delivered, and are adding new manufacturers and new product lines for gifting. However, readers should note that 123Greetings accounts gifting revenue at a gross level, so the margins will be lower than in the advertising business. The online gifting business was introduced only a few quarters ago, and Q3, with Diwali, Christmas…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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