Intrasoft Technologies Limited Announces 40% YoY Income Growth

Online, November 15, 2011 (Newswire.com) - Mumbai: IntraSoft Technologies Ltd. (BSE: 533181, NSE: ISFT), owners of one of the largest electronic greetings website http://www.123greetings.com, today announced its unaudited consolidated financial results for the second quarter ended September 30, 2011.

Q2 FY2012 Highlights: (All comparisons are with Q2 FY2011 figures)
• Total income at ` 1315 lacs up by 40% from ` 936 lacs
• PAT reported at ` 296 lacs up by 16% from ` 255 lacs

H1 FY2012 Highlights: (All comparisons are with H1 FY2011 figures)
• Total income at ` 2403 lacs up by 40% from ` 1714 lacs
• PAT reported at ` 449 lacs up by 27% from ` 353 lacs

On a quarterly consolidated basis, the company posted a robust income growth of 40.4% from ` 936.43 lacs in Q2 2010-11 to ` 1315.14 lacs in Q2 2011-12. Profit after tax (PAT) grew by 16.1% from ` 255.58 lacs in Q2 2010-11 to ` 296.74 lacs in Q2 2011-12.

Commenting on the numbers, Mr. Arvind Kajaria, Managing Director, IntraSoft Technologies Ltd. said, "It gives me immense pleasure to present our results for the Second Quarter driven by a steep climb in revenue growth. The investments in the E-Commerce business have begun to pay off. Also, the innovations and creative features introduced in the last fiscal year have received encouraging response from the users. As estimated, we are witnessing that the investments have started to contribute and add to our profits."
"The 27% YoY rise in H1 PAT reflects the inherent strength of the company and the model adopted by it. It validates the effectiveness of our key features including the focus on increasing the scale of our businesses so as to deliver long term shareholder value and increase our presence across geographies," he further adds.

Operational Performance Highlights:
• 123Greetings Store, the online gifting e-commerce business, witnessed tremendous growth. During the quarter, a total of 24,931 orders were shipped as compared to 14,340 orders in the last quarter, growth of 73.9%; averaging approx 277 orders / day, from an active base of 108 vendors.
• 123Greetings Connect was added in June 2010. The specialty about 'Connect' is that it gives users the facility to import and store unlimited contacts from their mail boxes and access their personal Address Book and set their contacts, birthdays from anywhere in the world. The website has received a great response with the registered users rising from 1,326,122 as on June 30, 2011 to 1,437,433 as on September 30, 2011, notching a growth of almost 8.5%
• 123Greetings Invites, a value added feature that enhances user experience, witnessed the creation of 575 new events as on September 30, 2011. During the same period, 4,002 invites were sent using this feature.
• 123Greetings Studio, a creative platform launched a year back, observed a remarkable 15% rise in users. The Studio users increased from 10,517 as on June 30, 2011 to 12,120 through the quarter
• 123Greetings Facebook application that helps people to connect and share greetings on the social media platform was used by 944,997 users in the quarter. About 591,825 cards were sent by 159,985 users during this period.

"Stepping into the next Quarter, we expect to maintain and increase the robust response that we have been receiving from our users year after year. We will continue to formulate and design inventive and exciting features which will better align us to the market trends and thereby enhance our growth in terms of profitability and efficiencies to serve our users worldwide", 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).