Infibeam Avenues Q2 net profit up 5 pc at Rs 44 crore

Mumbai: Payments-focused fintech Infibeam Avenues on Tuesday reported a 5 per cent increase in its consolidated net profit to Rs 44 crore for the September quarter.

The Gandhinagar-headquartered entity had reported a net profit of Rs 41.89 crore in the year-ago period.

On a standalone basis, its profit after tax slipped to Rs 36.1 crore from Rs 37 crore in the year-ago period, and Rs 36.26 crore in the quarter-ago period.

The total income rose to Rs 949.34 crore from Rs 741.67 crore, while the operating expenses increased to Rs 900 crore from Rs 689.54 crore.

The company has guided for a 23-32 per cent growth in the gross revenue at Rs 3,900-Rs 4,200 crore in FY25 and the operating profit to rise 9-19 per cent to Rs 275-300 crore.

The Infibeam scrip closed 1.30 per cent down at Rs 27.37 apiece on the BSE as against a 1.03 per cent correction on the benchmark.