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Infibeam reports net profit of Rs 9.24 Cr on back of improved software & ancillary services sales

Infibeam Incorporation Limited has reported that sales in the software and ecommerce related ancillary services segment posted profits of Rs 57.04 crore for the financial year ended March 31, 2016 (FY16), up 42.5% from Rs 40.01 crore in FY15. While sale of products posted losses of Rs 19.51 crore for FY16, as compared to losses of Rs 23.11 crore in the previous year. The software and ancillary services segment's improved performance propelled Infibeam to report a net profit (profit after tax) of Rs 9.25 crore for FY16, as compared to a loss of Rs 10.11 crore in FY15. Note that Infibeam Incorporation subsidiary NSI Infinium Global Private Limited operates the ecommerce marketplace Infibeam.com and the DIY ecommerce platform BuildaBazaar.ooo. Ecommerce (sale of products), which means Infibeam.com, posted revenues of Rs 234.11 crore for FY16, up 5.7% from Rs 221.41 crore for FY15. Whereas, ecommerce (sale of software and ecommerce related ancillary services), or BuildaBazaar.ooo, reported revenues of Rs 102.83 crore for FY16, up 53.9% from Rs 66.79 crore for FY15. Sale of products accounted for 69.5% of the total revenue for FY16, while sale of software and ancillary services accounted for the remaining 30.5%. Infibeam reported total revenue of Rs 336.95 crore for FY16, up 16.91% from Rs 288.20 crore in the previous financial year. Other highlights - The company claimed it had 53,633 registered merchants on the BuildaBazaar platform, as of March 31, 2016, and that it grew 60% year-on-year. - BuildaBazaar earns by charging a set-up cost to merchants, as well as through monthly fee…

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