Infibeam Avenues Sees 5% Rise in Profit Amid Mixed Results

Infibeam Avenues reported a 5% increase in consolidated net profit to Rs 44 crore for the September quarter. However, standalone profit after tax fell compared to the previous year and last quarter. The company's income rose but so did expenses. Future growth guidance was also provided.

Infibeam Avenues, a fintech company specializing in payments, has reported a 5% increase in its consolidated net profit, totaling Rs 44 crore for the September quarter. This marks an improvement from the Rs 41.89 crore recorded in the same period last year.

Despite the consolidated net profit rise, the standalone profit after tax decreased to Rs 36.1 crore from Rs 37 crore year-over-year and Rs 36.26 crore from the previous quarter. This decline reflects challenges in the company's standalone financial performance.

The company experienced a rise in total income to Rs 949.34 crore, up from Rs 741.67 crore, while operating expenses increased to Rs 900 crore from Rs 689.54 crore. Infibeam has projected strong growth, predicting gross revenue between Rs 3,900 and Rs 4,200 crore and operating profit rising by 9-19% for FY25.

(With inputs from agencies.)