Mumbai, Maharashtra -- (SBWire) -- 05/31/2012 --IntraSoft Technologies Limited Reports 75% YoY Income Growth for the Fourth Quarter Ended 31 March 2012
IntraSoft Technologies Ltd. (BSE: 533181, NSE: ISFT), owners of one of the largest electronic greetings website http://www.123greetings.com, recently announced its unaudited consolidated financial results for the fourth quarter ended March 31, 2012.
Q4 FY2012 Highlights :( All comparisons are with Q4 FY2011 figures)
- Total income at Rs.1850 lacs up by 75% from Rs. 1057 lacs
- PAT reported at Rs. 291 lacs up by 6% from Rs. 275 lacs
FY2012 Highlights: (All comparisons are with FY2011 figures)
- Total income at Rs. 6626 lacs up by 55% from Rs. 4275 lacs
- PAT reported at Rs. 1101 lacs up by 9% from Rs. 1008 lacs
On a quarterly consolidated basis, the company posted a robust income growth of 75% from Rs. 1057.29 lacs in Q4 2010-11 to Rs. 1850.41 lacs in Q4 2011-12. Profit after Tax (PAT) grew by 5.6% from Rs. 275.27 Lacs in Q4 2010-11 to Rs. 290.62 lacs in Q4 2011-12.
Commenting on the results Mr. Arvind Kajaria, Managing Director, IntraSoft Technologies Ltd.said, "ITL has displayed healthy performance this quarter. In direct contrast to the global cues, the company has posted a substantial income growth. The discerning investments made in the past have helped the company grow significantly in size. Newer markets are being penetrated and in the existing markets we continue to consolidate our position."
"While the E-commerce division added more products and saw an increase in the number of vendors, our Facebook application and the value added services like Connect, Invites and Studio continued to augment user engagement and divert traffic to our sites. The growth momentum is expected to continue through the medium and long term."
Operational Performance Highlights:
- This quarter, 123Greetings Store, the online gifting e-commerce business, shipped 32,345 orders. The number of vendors grew from 161 to 205. The steady performance was achieved despite the sluggishness traditionally witnessed in the fourth quarter.
- 123Greetings Connect, the feature that enables users to import and store unlimited contacts from their mail boxes and set their contacts and birthdays on the cloud, witnessed a rise from 1,437,433 users on September 30, 2011 and 1,621,623 on December 31, 2011 to 1,732,253 on March 31, 2012.
- 123Greetings Invites witnessed the creation of 745 new events during the quarter. During the same period, 7972 invites were sent using this feature.
- 123Greetings Studio, a creative platform launched a year ago, observed a steady 11% rise in users. The Studio users increased from 13,961 as on December 31, 2011 to 15,461 through the current quarter.
- 123Greetings continued to maintain traction and witnessed an addition of 1,609 new cards in the quarter.
- The registered user base of 123Greetings Facebook application grew from 1,001,500 to 1,037,650. About 771,068 cards were sent by 225,192 users during this period.
"Going forward, the consolidation of our various value added services and the continued growth of our two businesses, would serve as a blueprint to deliver long term sustainable profitability. We have been consistent in maximizing shareholder value through a sustained performance even during non-conducive market conditions. Our strong market position in the e-greetings space, focused strategies to drive traffic to our websites and our success in the e-commerce business represents the foundation for sustainable growth”, concludes Mr. Kajaria.
About 123Greetings
123Greetings is the world's leading online destination for human expressions reaching over 91 million unique users annually. Drawing from its tag line "Giving Life to your Expressions" the service inculcates a sense of personalization that relates to the users on an emotional level.
Its offering of over 20,000 greeting cards covers a mix of 3,000 seasonal & everyday categories. Its applications & widgets for social networks & blogs allow users ubiquitous access across multiple devices and platforms.
About IntraSoft Technologies Limited
IntraSoft Technologies Limited owns and operates http://www.123greetings.com, one of the most visited electronic greeting cards website in the world. The Company operates through its wholly owned subsidiaries in various geographies, which are 123Greetings.com,lnc.(USA), One Two Three Greetings (India) Pvt. Ltd. (India) & 123Greetings (Singapore) Pte Ltd. (Singapore).
IntraSoft Technologies Limited Reports 75% YoY Income Growth for the Fourth Quarter Ended 31 March 2012
IntraSoft Technologies Limited announced its unaudited consolidated financial results for the fourth quarter ended March 31, 2012.