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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. 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…

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

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