Infibeam Avenues posts Rs 727 Cr revenue and Rs 49 Cr profit in Q4 FY24

Fintech firm Infibeam Avenues on Thursday released its financial results for the fourth quarter of the previous fiscal year (Q4 FY24). Despite a decline in scale, prudent cost management bolstered the firm's profitability in the last quarter of the previous financial year.

Infibeam’s revenue from operations decreased 20.3% to Rs 727 crore in Q4 FY24 as compared to Rs 912 crore in Q3 FY24, as per the firm’s consolidated financial results published on the National Stock Exchange.

Compared to a year-on-year basis, the company's operating revenue grew 57.4% to Rs 3,199 crore in FY24 from Rs 2,033 crore in FY23.

Infibeam made 92% of its total operating revenue via its payment gateway and infrastructure business which stood at Rs 670 crore in Q4FY24 while collections from its e-commerce platform business grew 6% to Rs 57 crore during the same period. 

Infibeam also earned Rs 16.2 crore from interest and gains on financial assets which took the firm’s overall revenue to Rs 743 crore in Q4FY24.

For the payment firm, its operational overheads which include infrastructure to manage its payment biz and other service-related charges accounted for 91.3% of the total expenditure. To the tune of scale, this cost declined 22.4% to Rs 620 crore in Q4 FY24.

Infibeam’s burn on employee benefits, legal, advertising, finance, and other overheads took its total expenditure to Rs 679 crore in Q4 FY24.

Despite the decline in the scale, Infibeam Avenues kept its expenses under control which led it to post a 20% increase in profits to Rs 49.2 crore in Q4 FY24 from Rs 41 crore in Q3 FY24. On a unit level, the company spent Re 0.93 to earn a rupee in Q4 of FY24.

Infibeam Avenues stock price is currently trading at Rs 32.80 (16th May, 2024 04.34 PM) with a total market cap of Rs 9,124 crore.