Infibeam Avenues, an Indian fintech firm, has experienced a remarkable surge in its share value over the past six trading sessions. The company’s shares have jumped from ₹25.60 apiece to a closing price of ₹37.80, delivering a significant return of 48% to its shareholders within this short period. This surge has propelled the company’s shares to an impressive gain of 147.87% over the past six months.
The rally in share value followed the release of Infibeam Avenues’ Q3 FY24 earnings report on January 23, which showcased strong financial performance. The company achieved its highest-ever quarterly profit after tax (PAT) of ₹42.1 crore, reflecting a substantial 64% increase compared to the corresponding period last year. Additionally, the company reported its highest EBITDA of ₹69 crore, marking a year-on-year growth of 45%.
Infibeam Avenues is an Indian multinational financial technology company that offers integrated and scalable digital platforms, including digital payment solutions under the brand name CCAvenue and enterprise software solutions under the brand name BuildaBazaar. The company is the only listed home-grown, bootstrapped, and profitable fintech conglomerate with a comprehensive fintech portfolio.
The strong Q3 performance can be attributed to the synergy of the festive season and the growing adoption of the CCAvenue payment solution by merchants. The company witnessed a surge in financial transactions, with the total payment volume (TPV) rising by 75% year-on-year. The growth in TPV was predominantly driven by sectors such as hospitality, travel, telecom, airline travel, and hotels.
Infibeam Avenues added 2.28 lakh merchants during the quarter, highlighting the company’s growing relationship with bank partners and the impact of the RBI licensing regime, which sets high standards for fintech players and creates significant entry barriers for new players.
Looking ahead, Infibeam Avenues maintains its financial guidance for FY24, with expectations of continued growth. The sustained rise in spending within the travel and hospitality sector is expected to be a key growth factor for the company. This trend, coupled with the increasing adoption of digital payment solutions, positions Infibeam Avenues for long-term success.
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