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Intrasoft’s revenues rise 31% to Rs 216.10 crore in Q4FY17

Intrasoft, the parent company of e-commerce store 123stores, has posted revenues of Rs 216.10 crore for the quarter ended March 31  2017 (Q4-FY17). This was a rise of 16% year-on-year (YoY) from Rs 186.62 crore in Q4-FY16, however, there was  23%  drop from Rs 281.76 crore in the preceding quarter. The company’s revenue for the whole year stood at Rs 939.01 crore which was an increase of 31% as compared to the total revenues for the previous year which was Rs 716.87 crore. The profits for FY17 was Rs 13.30 crore an increase by 94% from the previous year of Rs 7.10 crore. The company also generated a free cash flow of Rs 35 crore this year. Net profit for the year stood at Rs. 13.8 crore up by 94% from Rs 7.10 crore. For the quarter, Intrasoft posted a net loss of Rs 77.67 lakh compared to a profit of Rs 33.5 crore in the same quarter last year. The company said due to the free cash flow improvement, it repaid 50% of the working capital loan in the US during the quarter and now has only Rs 16 crore outstanding debt as on March 31st. Intrasoft claims to be net debt free on a consolidated basis.  In October last year, 123 stores secured a $8 million ‘line of credit’ from UPS Capital. It said it plans to use the fresh funds for working capital to drive growth, the company added. Intrasoft has not provided details on how many orders it shipped…

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