Infibeam Avenues Q4 PAT Rises To INR 49.2 Cr

SUMMARY

Infibeam’s operating revenue increased over 11% YoY but declined 20% QoQ to INR 726.8 Cr in Q4 FY24

The company also noted challenges posed by the “dynamic and competitive environment"; its payment business revenue declined quarter-on-quarter (QoQ) to INR 669.8 Cr in Q4

Helped by AI boost, Infibeam has set a target of 18-35% growth in its PAT to INR 175 Cr to INR 200 Cr in FY25

Payments infrastructure company InfibeamInfibeam Datalabs_in-article-icon Avenues posted a 28% rise in its consolidated profit after tax (PAT) to INR 49.2 Cr in the March quarter (Q4) of the financial year 2023-24 (FY24) from INR 38.4 Cr reported during the previous year’s quarter.“In addition to its robust payment business, Infibeam’s platform segment has also demonstrated impressive resilience, posting 29% YoY increase. This growth is primarily fueled by strategic accounts with large enterprise clients, further solidifying Infibeam’s position as a leader in the digital commerce ecosystem,” the company said.The company said that by the end of FY24, it had over 10 Mn merchant accounts while its transaction processing soared to INR 2.57 Lakh Cr in payment value, excluding Rupay debit cards and UPI payments. “In the upcoming fiscal year, our strategic focus will be on expanding internationally, with a particular emphasis on the Middle East market. This will accelerate our growth trajectory in this region, our international subsidiary has announced a pre-IPO round of up to $25 Mn. This investment will fuel our expansion efforts and propel us towards capturing a significant market share,” said Vishwas Patel, joint MD of Infibeam.

However, excluding the notional impact arising from mark-to-market gain/loss from investment in listed security, the company’s PAT saw an 8% year-on-year (YoY) growth to INR 35.8 Cr in the reporting quarter.

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