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123Greetings gift shipments up 2x to 88,348 orders In Q4-FY14; Mobile e-cards up 49%

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…

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