Updated: Half year results and operational details from Intrasoft's report. Previously (November 14): Intrasoft Technologies which operates the e-greeting cards site 123greetings.com has reported a Consolidated Profit after Tax (PAT) of Rs 2.96 crore for the quarter ending 30th September 2011, a 16% increase in profit from Rs 2.55 crore for the same quarter last year. The revenues stand at Rs 13.15 crore (excluding other income), up by 40.5% from 9.3 crore. The company also reported a total income of 24.03 crores for the half year ending September 30, 2011 (H1 FY-12) , up by 40% from 17.14 crores. The Profit after Tax (PAT) was at Rs 4.49 crores, up by 27% from 3.53 crores. Remember that these revenues are for the pre-Diwali quarter, and with this, 123Greetings heads into what is typically its most important quarter of the year - the festive season, with both the Indian (Diwali) and US (Christmas) festive period in the same quarter. 123Greetings primarily targets the US market. 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). IPO Proceeds: As of 30th September 2011, the company has raised 53.65 crore through its IPO, spent Rs 5.24 crore towards 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 Rs 30.20 crore remaining unutilised. Expenditure: Intrasoft spent Rs 6.08 crore towards product and content development in this quarter, a significant increase from Rs 4.52 crore allocated last year.…
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