Internet Software & Services firm Infibeam Avenues announced Q4FY23 & FY23 results: Total Income for FY23 crossed Rs 2,000 crore for the first time in company’s history, up 56% YoY. Highest Ever PAT at Rs 136 crore is up 63% and EBITDA at Rs 180 crore is up 24%, YoY. Added approx. 8,200 merchants daily in Q4; No. of merchants 9.2 million, up 61% YoY. CCAvenue merchant lending business (Express Settlement to merchants) grows to Rs 2,000 crore annually. Highest ever quarterly Payment Transaction Processing Value (TPV) of Rs 1.5 lakh crore, up 61% YoY. Highest Annual Gross Merchandising Value upwards of Rs 2.0 lakh crore on Platform business, up 90% YoY. Company declares dividend for three consecutive years. Approved Full year dividend of 5%. “The Company had the best quarterly performance in its history buoyed by both digital payments and software platforms businesses. These businesses have consistently outperformed and is reaping the benefits of maintaining a prudent business strategy of going after profitable revenue growth versus growth at any cost. The company’s endeavour to build superior and safe fintech solutions has helped us to scale our business and have a frictionless relationship with our ecosystem partners and the regulators. This will lead to a sustainable business that will generate long-term value for our business and for our shareholders,” said Mr. Vishal Mehta, Managing Director, Infibeam Avenues Ltd. “There has been a significant rise in the digital payment in India and Middle East. Our solutions CCAvenue is considered gold standard in payment infrastructure systems and processes. We onboarded more than 9 lakh merchants in last 180 days and annually processed successful transactions of more than Rs 2.2 lakh crore. With now increased focused on offline merchants through our CCAvenue omnichannel TapPay app, we anticipate more aggressive growth in coming months,” said Mr. Vishwas Patel, Executive Director, Infibeam Avenues Ltd. Result PDF
Internet software & service firm Infibeam Avenues announced Q3FY23 results: Q3FY23: PAT at Rs 35 crore up 46% and EBITDA at Rs 48 crore up 26% YoY. Added a record 1.1 million merchants; number of merchants 8.4 million; up 72 % YoY. Quarterly gross transaction processing value (TPV) of Rs 1 lakh crore, up 27% YoY. The company becomes the first payment gateway to process digital rupee transactions for online retail payments. Go Payments subsidiary turns EBITDA breakeven; company increases stake further. Received in-principle approval to operate as a payment aggregator and perpetual Bill Payments license from RBI. “The company had a solid quarterly performance attributable to all-round business development. Our focus on generating higher profitability per transaction in our payments business is starting to show results. We are constantly innovating our offerings and building comprehensive vertical-specific technology that helps merchants in each industry overcome operational challenges. This has given us a lead to be their preferred payments partner giving us a sustainable business that will generate greater long-term value for our business and for our shareholders,” said Vishal Mehta, Managing Director, Infibeam Avenues Ltd. Result PDF