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IntraSoft (123Greetings) posts net profit of Rs 3.84 crore for 3Q 2010-11

IntraSoft Technologies, which owns an online greetings portal 123Greetings.com, has reported a growth of 22 per cent in its net profit at Rs 3.84 crore for the third quarter ended December 31, 2010, as compared to Rs 3.16 crore for the corresponding quarter of the previous fiscal year. Total income increased by 47 per cent to Rs 15.15 crore in the third quarter of the current fiscal year, compared to Rs 10.32 crore recorded for the December 2009 ended quarter.

IntraSoft Technologies, which owns an online greetings portal 123Greetings.com, has reported a growth of 22 per cent in its net profit at Rs 3.84 crore for the third quarter ended December 31, 2010, as compared to Rs 3.16 crore for the corresponding quarter of the previous fiscal year. Total income increased by 47 per cent to Rs 15.15 crore in the third quarter of the current fiscal year, compared to Rs 10.32 crore recorded for the December 2009 ended quarter.

Arvind Kajaria, managing director, IntraSoft Technologies, has 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.”

During the third quarter, 123Greetings launched ‘123Greetings Invites’ that allows users to invite guests for events online. The company also introduced an online store to let users send gifts along with e-cards. The quarter also witnessed the launch of ‘123Greetings Studio’ that enables artists to upload their personal creations and showcase them, in the form of e-cards, for 123Greetings users.

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