Infibeam Avenues saw an increase of 16.7% in its consolidated profit after tax (PAT) to INR 47.4 Cr in the September quarter
Sequentially, the company's PAT remained stable with a 31.7% decline from INR 69.4 Cr
Revenue from operations increased by 29.1% to INR 1,016.6 Cr in Q2 FY25, compared to INR 786.9 Cr in the year-ago period
Update | Tuesday, 2:30 PM
Payments infrastructure company Infibeam Avenues saw an increase of 16.7% in its consolidated profit after tax (PAT) to INR 47.4 Cr in the September quarter (Q2) of the financial year 2024-25 (FY25) from INR 40.6 Cr in the same quarter last year.
Sequentially, the company’s PAT declined 31.7% from INR 69.4 Cr.
Revenue from operations increased by 29.1% to INR 1,016.6 Cr in Q2 FY25, compared to INR 786.9 Cr in the year-ago period, and rose by 36.4% from INR 745 Cr in Q1 FY25.
Total expenses climbed to INR 957.1 Cr, marking an increase of 30.4% from INR 733.9 Cr in the corresponding period last year and a rise of 38% from INR 693.7 Cr in Q1 FY25.
“To achieve our FY25 financial goals, we are accelerating strategic initiatives with a focus on international growth, aiming for this segment to contribute 12-15% of net revenue within two years,” said Vishal Mehta, chairman and managing director, Infibeam Avenues.
“Our priorities are centered on delivering profitable growth, leveraging investments like Rediff.com and our AI initiatives, and optimizing operations to seize opportunities in the digital payments and fintech sectors, ensuring sustained value for our shareholders,” he added.
In Q2 FY25, the company claims to have boarded about 2 Lakh new merchants on its platform. “On an average 2,100+ new merchants joined daily across various industries and geographies,” the company said in a BSE filing.
Notably, the company plans to develop new AI products to enter into various sectors, offering AI solutions.
Phronetic.AI– the company’s AI vertical, is also developing a new Human-Computer Interface (HCI) that will revolutionize video interactions during chats, allowing for immersive communication that goes beyond text and voice.
Infibeam also plans to foray into fintech space by entering into business productivity software space through its upcoming release of RediffOne- a complete suite for enterprise solutions.
RediffOne will include ERP, CRM, and HRMS functionalities, along with enterprise-grade email services, providing a comprehensive digital toolkit for businesses.
“This new revenue stream is expected to contribute between 2% and 4% of our total revenue this year, potentially reaching up to 10% in the coming year,” the company said.
Founded in 2007, Infibeam offers comprehensive digital payment solutions and enterprise software platforms to businesses and governments across industry verticals.
In March this year, Infibeam Avenues received the RBI’s nod to operate as a payment aggregator via its payment gateway brand CCAvenue.
Following the company’s Q2 earnings announcement, shares of Infibeam were trading 0.25% lower at INR 27.66 apiece at 2 PM on the BSE on Tuesday( November 12).
Original | Tuesday, 1:55 PM
Payments infrastructure company Infibeam Avenues reported a marginal decline of 2.43% in its profit after tax (PAT), down to INR 36.1 Cr in the September quarter (Q2) of the financial year 2024-25 (FY25) from INR 37 Cr in the same quarter last year.
Sequentially, the company’s PAT remained stable with a 0.27% decline from INR 36.2 Cr.
Revenue from operations increased by 27.7% to INR 944.5 Cr in Q2 FY25, compared to INR 739.4 Cr in the year-ago period, and rose by 38.4% from INR 682.2 Cr in Q1 FY25.
Total expenses climbed to INR 900.5 Cr, marking an increase of 30.6% from INR 689.5 Cr in the corresponding period last year and a rise of 38.3% from INR 650.8 Cr in Q1 FY25.
“To achieve our FY25 financial goals, we are accelerating strategic initiatives with a focus on international growth, aiming for this segment to contribute 12-15% of net revenue within two years,” said Vishal Mehta, chairman and managing director, Infibeam Avenues.
“Our priorities are centered on delivering profitable growth, leveraging investments like Rediff.com and our AI initiatives, and optimizing operations to seize opportunities in the digital payments and fintech sectors, ensuring sustained value for our shareholders,” he added.
In Q2 FY25, the company claims to have boarded about 2 Lakh new merchants on its platform. “On an average 2,100+ new merchants joined daily across various industries and geographies,” the company said in a BSE filing.
(The story was updated to include the company’s consolidated financial results. Earlier, we reported standalone financials.)