Infibeam Incorporation Q2 revenue grows 76% YoY

Ahmedabad: Infibeam Incorporation Limited on Tuesday said its consolidated Q2 FY18 revenue grew 76% year-on-year to Rs 2016 million. Announcing its financial result for the quarter ended September 30th, 2017, it said Infibeam Web Services continues its upward journey while Infibeam e-retail platform maintains stability without burning cash. Operating Margins (EBIT) for the company remain stable to growing signifying our ability to manage our operations with optimal use of resources and managing our costs very well.

The company informed that its consolidated Q2 FY18 PAT grew 177% year-on-year to Rs 216 million. It said its services segment maintains growth momentum and revenue grew 264% year-on-year, EBITDA at 38%.

The company informed that transaction processed on its platform in Q2 FY18 grew to Rs 4,580 Cr – as many as 26.6 mn transactions were processed on its platform in Q2. It added that the number of merchants on the platform stood at 82,138 - up 34% year-on-year.

The company said it bagged contract from Adani Wilmar, part of Adani Group, to maintain an online omnichannel ecommerce platform, “Fortune Online”, with integrated logistics and ‘Government e-Marketplace’ (“GeM”) under web services vertical to fuel revenue. It informed that during the period the company also consolidated operations and shifting of corporate office to GIFT tower Two located in GIFT City, Gandhinagar.

Infibeam MD Vishal Mehta said: “We have transformed our revenue model which now focused more on transaction based earnings along with subscription based earning giving us an opportunity to earn on every transaction executed on the platform. This will be our driver for growth.”