After two quarters of declining profits, Intrasoft Technologies, which owns and operates the e-greeting cards site 123greetings.com reported a 35.6% increase in its net profit to Rs 0.99 crore from Rs 0.73 crore in the same quarter last year. The total operational revenue also increased by 132% to Rs 47.2 crore for the quarter, from Rs 20.33 crore in the same quarter last year. For the year ending March 31, 2014 (FY14), Intrasoft Technologies however saw a decline in its profits to Rs 2.06 crore, down 32.5% from Rs 3.05 crore profit in FY13. The total income was at Rs 149.54 crore for the fiscal, up 69.5% from Rs 88.24 crore in the previous fiscal. Note that 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. E-Commerce Business: 123Greetings Store, the company’s online gifting e-commerce business shipped a total of 88,617 orders during the quarter, more than double of 43,644 orders in the same quarter last year. The store recorded an average of 985 orders per day, up from 485 orders per day in the same quarter last year. This was from an active base of 975 vendors, as compared from 456 vendors in Q4-FY13 and 881 vendors in Q3-FY14. The company has listed 129,129 products at 554,397 places across its website & other marketplaces as of March 31, 2014. Intrasoft Technologies Managing director Arvind Kajaria mentions that they witnessed a significant growth in vendor tie-ups and addition of…
- “Foreign state actor” may be responsible for the ransomware attack on AIIMS-Delhi: Report December 3, 2022
- Agenda: Reworking The Data Protection Bill, Delhi, 8th Dec #Ad December 3, 2022
- Why has the deadline to comply with UPI market share cap been extended by the NPCI? December 3, 2022
- India’s IT Minister on DPDP Bill: Law should be kept ‘simple’, subordinate rules won’t exceed Act December 3, 2022
- MIB approves ninth self regulatory body, PADMA, under the IT Rules, 2021 December 3, 2022
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
The Structure and Style of a Dogma Community: Conspiracy theories and organized Twitter engagement on Sushant Singh Rajput
Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement
Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?
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...
Why ‘group privacy’ should be recognised, and how ‘non-personal’ data becomes a regulatory blindspot
There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data
Please subscribe to MediaNama. Don't share prints and PDFs.
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...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
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...