Infibeam Avenues Q3 profit rises 46 pc to Rs 35 cr

Financial technology firm Infibeam Avenues reported a 46 per cent increase in consolidated profit after tax to Rs 35 crore in the third quarter that ended December 31, 2022, the company said on Monday.Infibeam had posted a profit after tax of Rs 24 crore a year ago, a statement said. Post-investment Infibeam will hold a 54.8 per cent stake in Go Payments.

Financial technology firm Infibeam Avenues reported a 46 per cent increase in consolidated profit after tax to Rs 35 crore in the third quarter that ended December 31, 2022, the company said on Monday.

Infibeam had posted a profit after tax of Rs 24 crore a year ago, a statement said. The consolidated income from operations of the company grew by 4.4 per cent to Rs 414.7 crore during the reported quarter from Rs 39.7 crore in the December quarter of FY2021-22.

“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,” Infibeam Avenues Managing Director Vishal Mehta said in a statement.

Infibeam Avenues also announced raising its stake in Instant Global Paytech Pvt Ltd, which operates as Go Payments, by 2.42 per cent by investing Rs 16 crore. Post-investment Infibeam will hold a 54.8 per cent stake in Go Payments.

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