Infibeam Avenues: fourth quarter results: announces net profit of Rs 32 cr
The company had reported a net profit of Rs 24 crore a year ago, Infibeam Avenues said in a statement.
This excludes one-time income and includes Go Payments in the 2019-20 fiscal year for comparable comparison purposes, he added.
Its gross income rose 42% to Rs 201 crore in the quarter under review from Rs 142 crore in the corresponding period of 2019-20, he said.
For the full year, gross revenue increased 3% to Rs 676 crore in fiscal year 2020-21 compared to Rs 658 crore in the previous fiscal year.
“We are very excited to create innovative digital technology solutions for over 2.5 million merchants on our platform. Our business has recorded steady growth on a sound basis of digital payment
enterprise software solutions and platforms while adding an average of over 2,000 new merchants per day, ”Infibeam Avenues Ltd Managing Director Vishal Mehta said in a statement.
Hiren Padhya, Chief Financial Officer of Infibeam Avenues, said the company achieved growth in fiscal year 2020-2021 by achieving strong overall organic growth, driven by operational efficiency management and sustained growth in margins.
Infibeam Avenues Ltd executive director Vishwas Patel said the company has taken a milestone in handling the highest ever transaction value of 1.4 trillion rupees ($ 19 billion) in the past of fiscal year 2020-21, despite the spread of COVID-19 impacting some of the key retail sectors. such as aviation, hospitality, entertainment, travel and tourism.
“We continue to invest in innovative payment technology solutions to support the vision and growth of our customers and partners,” he added.
The company expects its transaction processing (POS) value to increase to $ 100 billion within 3 to 5 years from FY 2021-22, or $ 28 billion, while guaranteed loans to traders under the neo-bank are expected to spend 100 USD. to $ 200 million in fiscal year 2021-2022, the release said.
The company recorded a TPV of Rs 139,405 crore (USD 19 billion) during the fiscal year 2020-2021.