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Infibeam’s net profit boosted by 43% rise in services revenue in Q1FY17

Infibeam

Ecommerce company Infibeam has reported services revenue of Rs 32.17 crore for the quarter ended June 2016 (Q1 FY17). This represents a rise of 43% from Rs 22.5 crore in the same quarter last year. The services segment of Infibeam includes sale of software and ecommerce ancillary services. The segment posted a profit of Rs 17.81 crore for the quarter, up 30.46% from Rs 13.65 crore in the same period last year.

Infibeam’s ecommerce division – which sells products – reported revenues of Rs 70.93 crore, an increase of 15% from Rs 61.7 crore in the same quarter last year. However, the segment posted a loss of Rs 55.6 lakh. But the losses from the segment narrowed from Rs 4.22 crore in the same quarter last year.

This helped Infibeam’s net profit grow 237% to Rs 9.6 crore from Rs 2.85 crore in the quarter last year. Total revenue increased 22% y-o-y to Rs 10.31 crore while EBITDA increased 139% y-o-y to Rs 16.9 crore.

Other highlights

– The company claimed it had 57,482 registered merchants on the BuildaBazaar platform, as of June, 2016, growing  from 53,633 in the preceding quarter. BuildaBazaar earns by charging a set-up cost to merchants, as well as through monthly fee and a per-transaction commission.

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– The company claimed that it has over 5000 registered merchants who sell directly on Infibeam.com. As of June 2016, the company has more than 15 million stock keeping units (SKUs) and 8.2  million active users on Infibeam.com.

– In the preceding quarter, Infibeam mentioned that it had 6 warehouses and 12 logistics centres across 11 cities in India, which they plan to expand to additional 75 centres over the next 3 years. However, Infibeam said that it has not used any Rs 37.5 crore it had set aside for setting the logistics centres from its IPO.

– It has used up Rs 65 crore out of Rs 235.2 crore for setting up a data centre and purchase of property for shifting its corporate offices. The company has used Rs 20 crore out of Rs 67 crore budget from the IPO proceeds.

Investment in CCAvenue

Infibeam invested Rs 60 crore in payment gateway CCAvenue. In a BSE notification, the company said that it’s wholly owned subsidiary NSI Infinium Global Private Limited has signed a term sheet with CCAvenue parent Avenues India Private Limited.

Download: Press release and financials

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