Fintech solutions provider has posted a 137% on year growth in its profit after tax to Rs 23 crore at the end of June quarter. The company had posted a profit after tax of Rs 10 crore in the same period last year.
The transaction processed value (TPV) was up 72% to Rs 87,218 crore compared to Rs 50,651 crore in the June quarter last year.
“The return of demand has been tremendous, and it’s ever-growing,” said Vishal Mehta, Managing Director, Infibeam Avenues. “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.”
The gross revenue was up by 93%, at Rs 418 crore, compared to Rs 216 crore last year. EBITDA stood at Rs 43 crore, a growth of 51% year-on-year.
Currently, 6.4 million merchants are on Infibeam’s platform (double from last year), which increased at an average 8,000 per day.
“This could grow significantly due to the mass adoption of digitalisation,” said Vishwas Patel, Executive Director, Infibeam Avenues. “This merchant base along with the transactional insights we generate from their transactions will help us to monetise on this rich data by offering financial services to merchants in the form of invoice discounting, bill discounting and working capital loans.”
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