wordpress blog stats
Connect with us

Hi, what are you looking for?

123Greetings Ships 32,345 Orders In Q4-FY12; Rs 2.90 Cr Profit, Rs 18.50 Cr Income

For its fourth quarter of the 2011-2012 fiscal (Q4-FY12), ended 31st March 2012, Intrasoft Technologies, which owns and operates the e-greeting cards site 123greetings.com, has reported a Consolidated Profit After Tax (PAT) of Rs 2.90 crore, up by 6% from Rs 2.75 crore for the same quarter last year. This is on an income (not including ‘Other Income’) of Rs 18.50 crore up by 75% YoY from Rs 10.57 crore, but a decline compared to last quarter’s income of Rs 23.92 crore.

Annual results: The company reported a Consolidated Profit After Tax (PAT) of Rs 11.01 crore, up by 9% and income (not including ‘Other Income’) of Rs 66.26 crore for the financial year 2011-2012.

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). 123Greetings primarily targets the US market.

Operational Details

– 123Greetings Store, the company’s online gifting e-commerce business shipped a total of 32,345 orders during the quarter, a decline compared to 57,042 orders during the last quarter, from an active base of 205 vendors.
-123Greetings Connect saw the total number of registered users at 1,732,253 as on March 31, 2011.
– 123Greetings Invites saw 745 new events being created and 7972 invites being sent out in the quarter.
– 123Greetings Studio grew to 15,461 registered artists through the quarter, recording a 11% growth from its previous quarter.
– 123Greetings Facebook application saw 225,192 users sending 771,068 ecards to their friends and family. The app has a registered user base of 1,037,650  users as of March 31st, 2011.

Expenditure: Intrasoft spent Rs 9.32 crore towards product and content development in this quarter, a significant increase from Rs 3.40 crore allocated in the same quarter, last year but less compared to Rs 13.43 crore that it spent during the last quarter.

Advertisement. Scroll to continue reading.

The employee costs went up to 0.87 crore, a slight increase from Rs 0.81 crore that it spent in the same quarter, last fiscal, while general and administrative expenses increased to Rs 2.22 crore from  Rs 1.50 crore. The company spent Rs 2.41 crore towards sales and marketing this quarter, which is almost double of Q4 FY11′s Rs 1.28 crore.

Last year, 123Greetings launched its online store, to allow users to send gifts along with greeting cards, thereby pushing its gifting business. It also had unveiled its Invites site earlier this year.

IPO Proceeds:  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 41.03 crore, with Rs 7.37 crore remaining unutilised.

Written By

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



A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'


India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...


There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data


Existing consumer protection regulations are not sufficient to cover the extent of protection that a crypto-investor would require.


The Delhi High Court should quash the government's order to block Tanul Thakur's website in light of the Shreya Singhal verdict by the Supreme...

You May Also Like


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...


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...

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