HANGZHOU: Chinese business-to-business website Alibaba.com reported a first quarter doubling in profits to 301 million yuan ($43m; €27.8m; £22m), compared with the year earlier period. Sales rose 53% to 680m yuan after it added 36% more users.
The company, which connects 30 million businesses, is expanding its footprint in India, following the launch last October of a site dedicated to sub-continent users – a joint venture with Yellow Pages firm Infomedia.
Alibaba claims to be among the top three online marketplaces in India through its focus on SMEs, which it says make up 40% of the nation's industrial output.
In addition, it is preparing for the launch of its Japanese website to help Chinese exporters win orders in Japan.
Data sourced from Financial Times Online; additional content by WARC staff