Infibeam Avenues Ltd. has today announced its financial results for the quarter ended June 30, 2022. The company has shown stellar growth on account of surging payment transactional volume due to the return of high demand and increased economic activities.
In its Q1 FY 23, the company’s Transaction Processed Value (TPV) was up 72 per cent to Rs 87,218 crore compared to Rs 50,651 crore in Q1FY22, while its India payment processing net take rate was up by 26 per cent YoY at 6.9bps, as volume from profitable sectors increase
During the quarter, Infibeam’s Gross Revenue was up by 93 per cent, at Rs 418 crore, compared to Rs 216 crore in Q1FY22. EBITDA stood at Rs 43 crore, a growth of 51 per cent YOY and EBITDA margin on Net Revenue was 58 per cent vs 54 per cent YoY.
The company’s Profit After Tax was up by 69 per cent YoY to Rs 23 crore. Profit After Tax margin on Net Revenue was 31 per cent vs 26 per cent YoY.
Reflecting on the overall Q1 FY23 earnings performance, 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 per cent year-on-year across our fintech offerings in Q1 FY22-23. As per our in-ternal 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 per cent rise year-on-year in our merchant lending business – Express Settlement, ” Mehta added.
With additional growth drivers such as consistently converting EBITDA into free cash, almost debt free company and major capex cycle behind, Infibeam is charting a focused growth strategy for the next 3-5 years.
“Currently, there’s an excellent momentum shifting towards digital payments in the country. The latest RBI data reveals that 7.9 crore credit card holders spent on an average more than Rs 1,00,000 Cr in each month of Q1’23, which is record high. Digital payments in the country is growing at a rapid speed and the momentum continues in FY23. POS and eCommerce are expected to contribute equally to digital payments value in FY23. This is where we are entering the offline payments market with our SoftPoS with tap-to-pay feature, that will be a game changer,” said Vishwas Patel, Executive Director, Infibeam Avenues Ltd.
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