Declares 10% Interim Dividend
IntraSoft Technologies Ltd (BSE: 533181, NSE: ISFT), owners of one of the largest electronic greetings website http://www.123greetings.com, today announced their consolidated financial results for Q3 ending December 31, 2010.
FY2011 Q3 Highlights: (All comparisons are with Q3 FY2010 figures)
- Total Income up 47% from Rs. 1032 lacs to Rs. 1515 lacs
- Profit After Tax (PAT) up 22% from Rs. 316 lacs to Rs. 384 lacs
On a quarterly consolidated basis, the Company posted a robust income growth of 46.9% from Rs. 1031.65 lacs in Q3 2009-10 to Rs. 1515.19 lacs in Q3 2010-11. Profit after tax (PAT) grew by 21.5% from Rs. 316.23 lacs in Q3 2009-10 to Rs. 384.09 lacs in Q3 2010-11.
FY2011 M9 Highlights: (All comparisons are with M9 FY2010 figures)
- Total Income up 63% from Rs. 1986 lacs to Rs. 3228 lacs
- PAT up 18% from Rs. 625 lacs to Rs. 738 lacs
Meanwhile, on a nine month consolidated basis, the Company posted an income growth of 62.6%. From Rs. 1985.80 lacs in M9 FY2010, it went up to Rs. 3228.26 lacs in the current year. Profit after tax (PAT) grew by 18.0% from Rs. 625.36 lacs to Rs. 737.87 lacs.
Encouraged by the performance, the Board of Directors declared an Interim Dividend @ 10%.
Commenting on the Company's performance, Mr. Arvind Kajaria, Managing Director, said, “The results are in line with our expectations. Operating Profits have grown consistently through the year in each quarter and the new initiatives launched in the previous quarters have started gaining traction.”
According to figures released by ComScore Media Metrix, E-card sites ranked as the second top gaining category for the month of December. www.123Greetings.com recorded a robust growth of 35%, registering an increased growth of over 10% as compared to growth rate of E-card sites at 32%.
“The trend is optimistic and we expect to outperform the market in the coming quarters as well. The online gifting solutions business continues to show healthy growth. The Company is stepping up its investment in this activity to ensure aneven higher top and bottom line growth in the years to come” added Mr. Kajaria. To this effect, the Company launched its online store, to fuel its online gifting business, located at http://store.123greetings.com.
Highlights of the Quarter:
* 123Greetings launched its latest product ‘123Greetings Invites’ (http://www.123greetings.com/invites/). A powerful platform, ‘123Greetings Invites’ makes the process of inviting guests for events or functions completely online and enables users to communicate updates and track RSVPs. A free service, the feature is expected to enhance user experience.
* Launched its Online Store http://store.123greetings.com allowing users to send gifts along with their ecards.
* The quarter also witnessed the launch of ‘123Greetings Studio’ that allows artists worldwide to upload their personal creations and showcase them, in the form of e-cards, for 123Greetings users. Since its launch in November 2010, ‘123Greetings Studio’ has already added over 6000 registered users who have put up their works on display on the 123Greetings Website.
· 123Greetings Connect has succeeded in registering 571,156 users since its launch in June 2010. It continues in its exponential growth.
"IntraSoft Technologies Limited's outlook for Q4 is positive and we expect to maintain the growth trajectory" concludes Mr. Kajaria.
