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Intrasoft’s revenues up 20% YoY to Rs 338.26Cr in Q3FY18

Intrasoft Technologies Limited, which runs the multi-channel e-commerce retail platform 123Stores.com, posted revenues of Rs 338.26 crore for the quarter ended December 31, 2017 (Q3FY18), up 20 % year-on-year (YoY) from Rs 281.76 crore in the same quarter last year. In the previous quarter, the company had posted revenues of Rs 287 crore. Earnings from operations stood at Rs 7.2 crore, down 17.2% from Rs 8.7 crore in the same quarter last year. The company's EBITDA for the quarter stood at Rs 7.6 crore, down 24% YoY from Rs 10 crore in Q3 FY17. The company reported net profits of Rs 5 crore, down 21.3% from net profits of Rs 6.36 crore in the same quarter last year, but up 25% from net profit of Rs 4 crore in the previous quarter. The cost of goods sold (including shipping costs) stood at Rs 280 crore for the quarter, up 25.5% from Rs 223 crore in the corresponding quarter last year. It represented 83% of the company’s revenues. Intrasoft’s managing director, Arvind Kajaria mentioned that during the December quarter the company was in the midst of a structural change, which had led to a slowdown in addition of new products and hence higher margins while compromising on sales growth. "From this quarter (Q3FY18), we have started to make fresh investments to add new products to our selection. However, this impacted our EBITDA this quarter, but will help us accelerate our growth trajectory in the coming quarters," he added. Number of orders:…

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