E-commerce company Infibeam posted a net profit of Rs 19.7 crore for the quarter ended June 30 (Q1 FY17), growing 107% from Rs 9.6 crore in the same quarter. Sequentially, net profit grew 44.85% from the preceding quarter. The company attributed the growth in net profit and revenue due to its web services segment while it said that the e-commerce segment maintained stability without burning cash. Total revenue grew 79% to Rs 184.6 crore from Rs 103.1 crore in the same quarter last year. Total revenue stood at Rs 120.9 crore last quarter representing a growth of 52.69% sequentially. EBITDA stood at Rs 36.4 crore in the quarter growing 115% from Rs 169 crore. Services segment Infibeam’s services segment includes BuildaBazaar platform which provides cloud-based solutions for merchants. BuildaBazaar earns by charging a set-up cost to merchants, as well as through monthly fee and a per-transaction commission.…
