Infibeam

Despite crises, Infibeam’s profit surged by 43% to Rs 126 Cr in FY19

Infibeam

Infibeam has posted strong financial figures for FY19, riding the growth curve during which it has posted persistent fiscal growth over quarters during the last financial year.

The profits have increased by 43.3% from Rs 88.1 crores in FY18 to Rs 126.3 crores in FY19. At the same time, the company’s total expenses have also increased by 42% signaling that the company is earning profits for the additional expenses incurred by them in the last year.

Meanwhile, the company also made significant investments in noncurrent assets totaling Rs 244.8 crores and purchase in mutual funds rose 2.5X in FY19.

The first Indian e-commerce company to go public back in 2016, Infibeam faced its own set of issues in the market last year due to a rumor laced WhatsApp message raised questions on Infibeam’s accounting policies and corporate governance.

The viral message led to a nosedive in the stock prices by 71% to Rs 57.9. Stock prices have failed to recover from the crash last year and trade at around Rs 45 in the market despite it posting healthy profitability figures for the following fiscal periods. 

Last year, the company had called off its deal with Snapdeal to acquire Unicommerce eSolutions, sticking to its asset-light business model. Focusing on its existing business operations had fetched fruitful results as the revenue generated from operations grew 38% from Rs 839.3 crores in FY18 to Rs 1159.07 crores in FY19.

In FY18, the company had recorded 90 % growth in revenue over the preceding fiscal with a whopping 102% rise in net profit. It had posted a revenue of Rs 839.3 crore in last fiscal along with a net profit of Rs 88.1 crore. Importantly, it paid a final dividend of Rs 66.1/share for FY19  in comparison with the net interim dividend of Rs 54.11/share paid last year.

At the time of its launch, Infibeam was one of the first e-commerce websites to deal with consumer products in India. Understanding the volatile nature of the e-commerce market, the company assessed stiff competition it faced from giants Amazon and Flipkart who ate into its market share.

Hence the shift in recent years where the company pivoted to B2B services such as Payment gateway(CC Avenue), Bill Payments(Bill Avenue), and Data Center services.

Infibeam

Despite crises, Infibeam’s profit surged by 43% to Rs 126 Cr in FY19

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Below is the bank details:

 
Amount: INR 3,19, 000 (After Adding 18% GST and Deducting 2% TDS)
Bank Name: ICICI Bank
Account Type: Current
Account Name: Bareback Media Private Limited
Account Number: 002105023595
IFSC Code: ICIC0000021
 
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