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Intrasoft revenue rises 17.09% to Rs 260.16 cr

Intrasoft, the parent company of e-commerce store 123stores, has posted revenues of Rs 260.16 crore for the quarter ended June 2017 (Q1-FY18). This was a rise of 17.09 % year-on-year (YoY) from Rs 222.17 crore in Q1-FY17, and 17% q-o-q from the preceding quarter.  Kolkata-headquartered Intrasoft runs US-focused 123Stores.com, a multi channel retailer, whose operations & development center are based in Kolkata.

Financials

  • Net profit: Rs 3.61 crore during Q1FY18, up by 12.8% YoY from Rs 3.2 crore Q1FY17. The company recovered from its net losses of Rs 77.67 lakh in the previous quarter. 
  • Cost of goods sold:  Rs 212.13 crore, up by 20.33% from Rs 176.29 crore in the same period last year.
  • Sales and Marketing expenses:  Rs 34.87 crore, up by 7.65% from Rs 32.39 in the same quarter last year.
  • Top selling categories: The top three selling categories during Q1FY18 were furniture, patio, lawn and garden (30%), toys, games (25%), and home improvement and art crafts (13%); the third position was also shared by Musical Instruments and Gadgets (15%).
  • No. of orders: Intrasoft has not provided details on how many orders it shipped this quarter, stock keeping units, suppliers or top selling categories. It does have an indicative graph but does not mention any numbers for reference. However, it gave details on the same for Q3 FY17, it said that the number of orders fulfilled stood at 1.01 million, registering YoY growth of 24%.
  • Total number of suppliers had increased to 1,833 in Q3 FY17 from 1,783 suppliers in Q2FY17.

Intrasoft said in its release that focus on improving its inventory performance using its proprietary technology has enabled the company to improve its inventory turnover, average (Trailing Twelve Months) to 15.5 from 13.4 in the previous quarter. This led to an improvement in inventory days from 27 days to 24 days.

 

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.

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