India's first listed e-commerce player, Infibeam.com announced its financial results for the first time after its listing in April, 2016.
For the quarter ended March 31, 2016, Infibeam reported standalone net profit of Rs 1.76 crore on total income from operations of Rs 11.80 crore.
For the full year ended March 2016, company's net profit stood at Rs 4.28 crore as against a net loss of Rs 8.2 crore on the total income of Rs 43.11 crore as against Rs 29.43 crore last year.
On consolidated basis, Infibeam's net profit stood at Rs 1.95 crore on total income of Rs 75.56 crore. For the financial year 2015-16, company reported net profit of Rs 9.24 crore against net loss of Rs 10.11 crore last year. Total income increased to Rs 337 crore against Rs 288 crore last year.
Meanwhile, the company informed that it is in the advanced stage of setting up a Wholly Owned Subsidiary company in Dubai which will be helpful in catering the services business of the Company in MENA region and also increase the services revenue for the company.
The company further informed that its wholly owned subsidiary, NSI Infinium Global Private Limited has signed a term sheet with Avenues (India) Private Limited for investment of up to Rs 45 crore. "It is in further discussion for signing of definitive agreement. The percentage of investment will be finalised in the definitive agreement," it said in a statement.
Company shares gained by over 3.2 per cent to close at Rs 537 on the National Stock Exchange (NSE) on Monday.