Internet software and services company Infibeam Avenues announced Q1FY23 results:

• Transaction Processed Value (TPV) was up 72% to Rs 87,218 crore compared to Rs 50,651 crore in Q1FY22
• India payment processing net take rate up by 26% YoY at 6.9bps, as volume from profitable sectors increase
• Gross Revenue was up by 93%, at Rs 418 crore, compared to Rs 216 crore in Q1FY22
• EBITDA stood at Rs 43 crore, a growth of 51% YOY
• EBITDA margin on Net Revenue was 58% vs 54% YoY
• Profit After Tax up by 69% YoY to Rs 23 crore
• Profit After Tax margin on Net Revenue was 31% vs 26% YoY
• Launched CCAvenue mobile app, world’s most advanced omni-channel payment app in July, featuring India’s first pin-on-glass SoftPoS solution – CCAvenue TapPay targeting offline merchants
• Overall growth on account of surging digital transactions on return of high demand and increased economic activities

Reflecting on the overall Q1 FY23 earnings performance, Mr Vishal Mehta, Managing Director, Infibeam Avenues Ltd, said, “The return of demand has been tremendous, and it's ever-growing. We don’t see any demand and economic activities drop in the near future. We have registered TPV growth of 72% year-on-year across our fintech offerings in Q1 FY22-23. As per our internal data, the enormous rise in digital payment transactions was across all sectors.”

“High demand for goods & services from people, has also propelled the demand for business credit from merchants, to attain these increased demands. We have registered a 77% rise year-on-year in our merchant lending business – Express Settlement, " says Mr Mehta.

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