DBT Bureau
Pune, 13 Nov 2024
Infibeam Avenues Ltd has reported robust consolidated gross revenue of Rs 10,166 million, accompanied by a Profit After Tax of Rs 550 million in the second quarter of FY25. This achievement marks a significant milestone, as it is the first time in quarterly results that gross revenue has reached Rs 10,166 million, primarily attributed to the increase in payment transactions.
The Q2FY25 gross revenue witnessed a significant increase of 29%, and PAT saw a sizeable growth of 43% compared to the corresponding quarter of the previous financial year. The EBITDA also exhibited noteworthy growth of 26% Year-over-Year to Rs 854 million.
“In Q2, we achieved notable financial results with a net revenue registering a growth of 24%, EBITDA of 26%, and a profit after tax of 43%. This success highlights our disciplined execution, continuous optimization, and innovative payment solutions driven by our dedicated teams. 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. 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,” said Vishal Mehta, Chairman and Managing Director, Infibeam Avenues Ltd.
“In Q2, we onboarded nearly 0.2 million new merchants, reflecting our commitment to simplifying commerce, with an average of 2,100+ new merchants joining daily across various industries and geographies. Our take rate improved significantly to 11.3 bps in Q2FY25, reflecting a 21% increase from the previous year, significantly boosting our profitability. We have observed a rise in transaction numbers related to ticket bookings, travel arrangements, hotel reservations, and educational institutions as they embrace digital payment solutions more than before. These trends have collectively contributed to a marked increase in payment transactions for the company,” said Vishwas Patel, Joint Managing Director, Infibeam Avenues Ltd. “Our focus extends beyond current profits; we are dedicated to future-proofing Infibeam Avenues and capitalizing on India’s digital economy potential. With a clear path to sustainable, profitable growth, it’s inspiring to see our team’s dedication to this shared vision.”
