Latestone achieves 5,000 orders a day 

Hyderabad: Technology and mobile accessories e-tailer Latestone.com said its sales were up from 100 orders per day to 5,000 orders. It’s burn rate drastically came down from 51 percent in financial year 2015-16 to 18 percent in the current financial year 2016-17. Revenues rose in third quarter to Rs 71 lakh. The e-tailer aims to achieve net revenue of Rs 43.23 crore and gross profit of Rs 2.11 crore for this fiscal.

Parled online technologies, which owns and operates Latestone.com, invested Rs 30 crore. The proceeds from sale of Four Soft business in 2013, have been returned to shareholders. This was done by way of one-time dividend and capital reduction scheme and the company has retained Rs 42 Crore.