Payment facilitator company Infibeam Avenues has shown a 59% surge in its profit after tax (PAT) to Rs 50.4 crore in Q1 FY25 from Rs 31.6 crore in the corresponding quarter last year.
The company’s revenue from operations increased 1.4% to Rs 752.7 crore in the quarter under review from Rs 742.3 crore in the year-ago quarter. Its EBITDA jumped 25% YoY to Rs 69.8 crore in Q1 FY25 from Rs 55.8 crore in the quarter ended June 2023. The EBITDA margins improved to 59% from 57% in the same period.
Its total revenue was noted at Rs 780.66 crore in Q1 FY25 up against Rs 745.18 crore in Q1 FY24. Its payments business grew by 2.6% to Rs 704.77 crore from Rs 686.71 crore in the same period. The company’s e-commerce platform business declined 13.8% to Rs 47.98 crore in Q1 FY25 from Rs 55.65 crore in Q1 FY24.
The company’s total expenses dropped 1.1% YoY to Rs 702.73 crore in the quarter under review from Rs 710.63 crore in the corresponding quarter last year. Its operating expenses also declined 1.45% to Rs 634.25 crore in Q1 FY25 from Rs 643.6 crore in Q1 FY24.
Founded in 2007 by Vishal Mehta and Vishwas Patel, the company offers digital payment solutions, ecommerce platforms, and software services for enterprises.
Infibeam Avenues’ total payment volume (TPV) surged 67% YoY to Rs 19,769.1 crore in Q1 FY25 on account of rising digital transactions, and the growth in the company’s merchant-base because of the widened use of CCAvenue TapPay among them.
It is pertinent to note that the Ahmedabad-based company received RBI’s approval to function as a payment aggregator for its payment gateway platform CCAvenue, under the Payment Settlements Act 2007.
