[ad_1]
Its net profit for the quarter stood at Rs 47.4 crore, up 16.7% from Rs 40.6 crore a year earlier.
While the company saw its operational revenue grow steadily, its expenses shot up too. In the second quarter of the current fiscal, Infibeam Avenues reported total expenses of Rs 957 crore, up 30% from Rs 734 crore. A major chunk of the company’s expenses are operational expenses, part of which is a payment processing charge which it needs to pay banks for settling transactions generated via the CCAvenue gateway.
In the September quarter, CCAvenue reported a total payment volume (TPV) of Rs 2 lakh crore. A year back its TPV stood at Rs 1.7 lakh crore.
Infibeam Avenues runs two major business units: the payment gateway operations through CCAvenue, and a platform business for ecommerce operations.
In its core payments business, Rs 902 crore of revenue was generated in the September quarter, while the ecommerce business brought in Rs 41.6 crore.
Discover the stories of your interest
“To achieve our FY 2025 financial goals, we are accelerating strategic initiatives with a focus on international growth, aiming for this segment to contribute 12-15% of net revenue within two years. Our priorities are centred on delivering profitable growth, leveraging investments like Rediff.com and our AI initiatives,” said Vishal Mehta, managing director, Infibeam Avenues.
[ad_2]
Source link
