wordpress blog stats
Connect with us

Hi, what are you looking for?

Infibeam reports Rs 12.8 crores in profit, Rs 102.7 crore revenue

E-commerce marketplace and services company Infibeam reported total revenues of Rs 102.7 crore for the quarter ended December 2016 (Q3 FY17), and a net profit after of Rs 12.8 crores, and a 12% profit margin.

Its services revenues were Rs 40.2 crore, a rise of 49% from Rs 27 crore in the same quarter last year. The segment posted a profit of Rs 21.39 crore for the quarter, up 55.5% from Rs 13.75 crore in the same period last year.

The services segment includes BuildaBazaar platform which provides cloud-based solutions for merchants. Their merchant base stood at 66,109 merchants, up 4,861 (8%) from 61,248 at the end of the previous quarter. BuildaBazaar earns by charging a set-up cost to merchants, as well as through monthly fee and a per-transaction commission.

E-commerce results: impacted by removal of Cash-on-delivery

Infibeam’s e-commerce division – which sells products – reported revenues of Rs 62.5 crore, down 1% (around Rs 60 lakh) from the same quarter last year, and down 23% (around Rs 18.6 crore) from Rs 81.05 crore the previous quarter. However, the segment posted a loss of Rs 2.64 crore, an improvement from Rs 7.17 crore in the same quarter last year, and on par with Rs 2.7 crore for the quarter ended September 30th, 2016.

Advertisement. Scroll to continue reading.

While the company makes no mention of demonetization, the decline was attributed to the removal of Cash on Delivery, which “led to this muted performance in Q3FY17 for most of the e-commerce retailers. Infibeam must be among the least affected company in the given scenario.”

Since then, “The business has picked up since then and in Q4FY17, the company is expected to see a normal performance in e-commerce retailing business. There has been a shift noticed in consumer’s behaviour as consumers have moved to cashless payment methods using the digital payment instruments.”

Infibeam also reminds us: “The bigger brands are reportedly growing with losses, however, Infibeam is careful in not burning cash while focussing on value sales.”

It also reported 8.11 Mn active users on Infibeam.com.

Other highlights

– Avenues acquisition: Infibeam entered into a MoU with Avenues India to pick up 7.5% stake, and will be looking to acquire the company. Details here.

Advertisement. Scroll to continue reading.

– Private Treaties: On January 24th, Infibeam’s board of directors approved the “issue of one warrant fully convertible into equity shares for an aggregate amount not exceeding Rs. 60 crores” to the Times of India Group (BCCL) “on preferential issue basis at a conversion price of Rs.1,375/- per Equity Share (including premium)”

– Sears deal: In what is a major deal, it signed a deal with Sears Holding Management Corporation (“SEARS”) to provide e-commerce platform services at Sears Marketplace. “The Company has started working on the platform and believes that it will contribute to the overall revenue significantly in subsequent quarters. Sears is a leading integrated retailer focussed on seamlessly connecting digital and physical shopping experience.”

– Sikkim government deal: Infibeam will provide a “Unique & Verified Digital Identity Platform” (“Digital Services”) on .000 global top-level domain (gTLD) with authorized and secured digital wallets for Indians residing in the State of Sikkim. As a part of this program, Infibeam to provide a platform for the creation of digital web identity for citizens residing in the State of Sikkim (“Users”) to enable access and digital storage of their own citizen-centric records. Furthermore, Users will also get benefited by way of getting a free email address for their primary use, free personal web store for commerce and revenue generation opportunity, free 10 GB cloud storage, as well as integrated Digital wallet. Infibeam will also develop dedicated tourism portal for tourists visiting the State of Sikkim from all over the world”

Download: Press release & Financials

Advertisement. Scroll to continue reading.
Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



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...


There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data


Existing consumer protection regulations are not sufficient to cover the extent of protection that a crypto-investor would require.

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...


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


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...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ