Infibeam Avenues Q4 net profit rises to over Rs 75 cr

Infibeam Avenues Thursday said its consolidated net profit grew manifold to over Rs 75 crore during the March 2019 quarter from the year-ago period. The net profit stood at about Rs 22 crore in the January-March 2018 period, Infibeam said in a NSE filing.

The company's income from operations increased by 24.8 per cent to Rs 297.7 crore in the said quarter, compared with Rs 238.4 crore in the year-ago period, it added. For FY19, the net profit increased over 43 per cent to Rs 126.9 crore, while income from operations was higher by 38.1 per cent to Rs 1,155.5 crore as against the previous financial year.

Infibeam said it will continue to focus on its core web services comprising payments and platform businesses and scale through transaction-based revenue model. "We expect to continue the growth momentum in FY 2020 on account of continuous growth of commerce & acceptance of digital payments in India and international markets," it added.

Infibeam Managing Director Vishal Mehta said that for the next three years, the company will focus on the core PIP business (Payments, Infrastructure and Platform) with strong emphasis on digital payments, data centre-as-a-service infrastructure and (software-as-a-service) platform for enterprise customers and governments. "We expect that this focus will add significant value to our value proposition and multiply growth," he added.