Infibeam Avenues Q2 results: Firm posts 53% YoY jump in net profit

Mumbai: Infibeam Avenues on Thursday posted a net profit of Rs 18 crore for the second quarter, recording a 53% year-on-year (YoY) jump. The company had recorded Rs 12 crore net profit in the second quarter last year.

The company said it is also looking to raise capital through primary mode and aims to bring on board long term strategic and financial investors.

ET had in September reported that Infibeam Avenues was in talks with the US-based private equity firm Bernstein Equity partners for selling a substantial stake in the company.


Prior to the investment, Infibeam was looking to split the company into two verticals—a fintech payment gateway and a fintech platform, one of the persons aware of the development, people aware of the development had told ET.

The company is also looking to rope in strategic investors for the other vertical. Infibeam has also initiated conversations with a multinational e-commerce player and a large Indian conglomerate for selling equity in its platform business ET reported on September 1.

“We will partner with the best investors to accelerate investments for building superior fintech platforms,” Vishal Mehta, managing director, Infibeam Avenues said in a statement on Thursday.

The company recorded a 109% YoY growth in second-quarter gross revenue at Rs 311 crore. The company’s net revenue grew by 10% in the same period to touch Rs 61 crore.