New Delhi, Feb 4 (PTI) – Infibeam Avenues Ltd, a prominent player in the fintech sector, reported a robust 49% increase in consolidated net profit for the third quarter of the 2024-25 financial year. The surge in profits was largely attributed to the festive season's impact and a growing shift towards point-of-sale (POS) payments, particularly among small merchants.
The company’s net profit reached Rs 64.4 crore in the October-December 2024 quarter, compared to Rs 43.1 crore in the same period last year. This growth highlights the company's strong performance in the midst of rising digital payment adoption across India.
Revenue from operations also saw a notable increase, growing 18% year-on-year to Rs 1,070 crore from Rs 907 crore in the same quarter of the previous year. The total payment transaction volume (TPV) surged by 24% year-on-year, hitting a significant Rs 2,24,000 crore, reflecting an increased consumer preference for both online and POS-based digital payments.
Infibeam attributed this impressive growth to its AI-powered fintech solutions, strategic collaborations with banks and fintech companies, and the rise in digital transactions during the festive season.
Vishal Mehta, Chairman and Managing Director of Infibeam, commented on the results, highlighting how the festive season and POS adoption among small merchants played a key role in driving transaction growth. He also pointed to the company’s AI-driven business solutions as a key factor in its revenue boost.
"Additionally, with Rediff.com now part of our ecosystem, we expect further enhancement in both our financial performance and digital offerings," Mehta added. The company also unveiled the CCAvenue SoundBox during the quarter, a tap-to-pay POS device aimed at enabling offline digital transactions.
In a strategic move, Infibeam also expanded its global presence by signing key partnerships with UAE-based buy-now-pay-later (BNPL) firm Tamara and the widely used Google Pay.
The company’s payment business was the dominant revenue generator, contributing 94% to the total income, and grew 17% year-on-year to Rs 1,010 crore. Meanwhile, the revenue from its e-commerce platform business rose 23.2%, reaching Rs 60.1 crore.
Vishwas Patel, Joint Managing Director of Infibeam, praised the company’s strategic collaborations with banks, fintech firms, and regulatory bodies, which paved the way for "hyper-growth" in its payments business. He also noted a significant improvement in the company’s take rate, which increased by 32% year-on-year to 11.1 basis points in Q3 FY25, reflecting a strong drive toward profitability.
The festive season saw boosted transaction volumes in sectors such as travel, hospitality, and education, further underlining the shift toward cashless payments in India. Patel also noted that the launch of the CCAvenue SoundBox contributed significantly to the company’s growth trajectory.
Headquartered in GIFT City, Infibeam Avenues is a diversified digital business that focuses on digital payments, AI-driven fintech solutions, and digital platform services. The company competes with major players in the digital payments sector, including Paytm, Razorpay, and PhonePe.
Infibeam’s shares closed at Rs 23.37 on Tuesday, marking a 3.73% increase for the day.
The company’s net profit reached Rs 64.4 crore in the October-December 2024 quarter, compared to Rs 43.1 crore in the same period last year. This growth highlights the company's strong performance in the midst of rising digital payment adoption across India.
Revenue from operations also saw a notable increase, growing 18% year-on-year to Rs 1,070 crore from Rs 907 crore in the same quarter of the previous year. The total payment transaction volume (TPV) surged by 24% year-on-year, hitting a significant Rs 2,24,000 crore, reflecting an increased consumer preference for both online and POS-based digital payments.
Infibeam attributed this impressive growth to its AI-powered fintech solutions, strategic collaborations with banks and fintech companies, and the rise in digital transactions during the festive season.
Vishal Mehta, Chairman and Managing Director of Infibeam, commented on the results, highlighting how the festive season and POS adoption among small merchants played a key role in driving transaction growth. He also pointed to the company’s AI-driven business solutions as a key factor in its revenue boost.
"Additionally, with Rediff.com now part of our ecosystem, we expect further enhancement in both our financial performance and digital offerings," Mehta added. The company also unveiled the CCAvenue SoundBox during the quarter, a tap-to-pay POS device aimed at enabling offline digital transactions.
In a strategic move, Infibeam also expanded its global presence by signing key partnerships with UAE-based buy-now-pay-later (BNPL) firm Tamara and the widely used Google Pay.
The company’s payment business was the dominant revenue generator, contributing 94% to the total income, and grew 17% year-on-year to Rs 1,010 crore. Meanwhile, the revenue from its e-commerce platform business rose 23.2%, reaching Rs 60.1 crore.
Vishwas Patel, Joint Managing Director of Infibeam, praised the company’s strategic collaborations with banks, fintech firms, and regulatory bodies, which paved the way for "hyper-growth" in its payments business. He also noted a significant improvement in the company’s take rate, which increased by 32% year-on-year to 11.1 basis points in Q3 FY25, reflecting a strong drive toward profitability.
The festive season saw boosted transaction volumes in sectors such as travel, hospitality, and education, further underlining the shift toward cashless payments in India. Patel also noted that the launch of the CCAvenue SoundBox contributed significantly to the company’s growth trajectory.
Headquartered in GIFT City, Infibeam Avenues is a diversified digital business that focuses on digital payments, AI-driven fintech solutions, and digital platform services. The company competes with major players in the digital payments sector, including Paytm, Razorpay, and PhonePe.
Infibeam’s shares closed at Rs 23.37 on Tuesday, marking a 3.73% increase for the day.
Last updated by a enewsx:
