wordpress blog stats
Connect with us

Hi, what are you looking for?

123Greetings Ships 14340 Orders In Q1-FY12; Rs 1.53 Cr Profit, Rs 10.88 Cr Income

For its first quarter of the 2011-2012 fiscal (Q1-FY12), ended June 30, 2011, Intrasoft Technologies, which owns and operates the e-greeting cards site 123greetings.com has reported a Consolidated Profit After Tax (PAT) of Rs 1.53 crore, up by 55.6% from Rs 0.98 crore for the same quarter last year. This is on an income (not including ‘Other Income’) of Rs 10.88 crore up by 40% from Rs 7.78 crore.

These consolidated results include the results of the company’s wholly owned subsidiaries, 123Greetings.com, Inc(USA), 123Greetings Singapore and One Two Three Greetings(India).

Operational Details

The gifting business, 123Greetings Store, shipped a total of 14,340 orders during the quarter, averaging around 159 orders / day, from an active base of 47 vendors.
According to the comScore, 123Greetings.com witnessed a growth of 24% as against a growth of 13% in the entire ecards category index in the month of May 2011, with 1.8 million visitors.

– The 123Greetings Facebook application saw 172,217 users sending 511,851 ecards to their friends. As on June 30, 2011, the application had a registered user base of 907,548 users.
– 123Greetings.com added 1,371 new cards in the quarter.
– 123Greetings Studio, according to the company, saw the number of registered artists growing by 18%, up from 8,940 to 10,517, a total of 384 new cards were uploaded in the quarter.
– 123Greetings Invites saw only 905 events being created and 5,879 invites being sent out in the quarter.
– 123Greetings Connect saw the total number of registered users at 1,326,122 as on June 30, 2011.

Advertisement. Scroll to continue reading.

Financial Information

Interestingly, funds raised through the IPO remained unutilized during the quarter, at Rs 30.20 crore. The company had raised Rs 53.65 crore via IPO, spent Rs 5.24 crore on IPO expenses, Net proceeds through the IPO were Rs 48.40 crore , utilisation as per object of the IPO was Rs 18.20 crore, with Rs30.20 crore remaining unutilised.


Intrasoft spent Rs. 1.52 crore on sales and marketing in during the quarter, marginally higher than the Rs 1.10 crore the last quarter. Q1, it appears, is a quarter of lower spends and income for the company, which sees its revenue and marketing expenses peak during the holiday season, in the Q3 fiscal quarter.

Employee costs went up year on year to Rs 1.46 crore, from Rs 0.85 crore last fiscal.

Last year, 123Greetings launched its online store, to push its gifting business, to allow users to send gifts along with greeting cards. During the last quarter, it also announced the launch of its Invites site, although the service has been live for quite a while.

Advertisement. Scroll to continue reading.

Download: Financials | Press Release

123Greetings Revenues Up 47%, Profit Up 26% For Q3-FY11; Launches Online Store

Written By

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.



The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.


When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.


The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.


In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...


By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

You May Also Like


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ