Intrasoft, the parent company of ecommerce store 123stores, has posted revenues of Rs 222.17 crore for the quarter ended June 2016 (Q1 FY2017). This was a rise of over 88% on a year-on-year basis from Rs 117.73 crore, and an increase of 19.04% from Rs 186.62 crore from the preceding quarter. Ecommerce revenues stood at Rs 218.67 crore, up 19.83% from Rs 182.47 crore in the preceding quarter. On a year-on-year basis, the segment reported 92.9% growth from Rs 113.36 crore. Overall, net profit was up 116.24% to Rs 2.65 crore from Rs 1.22 crore in the same quarter last year. However, Intrasoft's net profit was down 92.0% from Rs 33.44 crore in the preceding quarter. This was mainly due to an exceptional item of Rs 33.8 crore in the preceding quarter. The number of orders fulfilled increased quite dramatically and stood at 623,699 from 293,894 in the same quarter last year, a growth of 112.21%. The total number of suppliers increased to 1,746 from 1,067 in Q1 FY16. Intrasoft now has more than 5,35,000 SKUs growing 132.6% from 230,000 in the same quarter last year. The top selling categories of products were furniture, patio, lawn and garden (28%), home improvement and art crafts (21%), and musical instruments and gadgets (14%). Intel Capital exit In June, Intel Capital, the investment capital arm of Intel Corp, exited Intrasoft Technologies by selling its remaining 5.3% stake in the company for Rs 29.2 crore ($4.4 million). In May, Intel Capital had reduced more than half of its stake in Intrasoft Technologies,…
- “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...