India's only listed financial technology solutions provider Infibeam Avenues Limited (BSE: 539807; NSE: INFIBEAM), today announced its consolidated financial results for the quarter ending September 30, 2021.
- Gross Revenue up 109% YoY to INR 311 crore
- Profit After Tax up 53% YoY to INR 18 crore
Key Operational Highlights - 2QFY22
- Total TPV up 111%, Annualised run-rate of $40bn vs. FY21 TPV of $19bn
- Digital Payments TPV up 80% YoY; Annualised run-rate of $25bn
- GeM GMV up >3x YoY; Annualised run-rate of $15bn
- Secured lending up 3x to $156mn; targeting $1bn annual run-rate by end of FY22
- Bill payments volume up >5x YoY; Annualised run-rate of 90mn vs. 25mn in FY21
- Merchant addition, highest ever: 4mn+ merchants as of Q2'22; 1mn+ added in 1H'22, 0.5mn added in Sep'21 alone
The Digital payments sector is growing at a very fast pace and mobile-payments-driven GMV is expected to reach $3tn by CY2026, growing at a five-year CAGR of approx. 45%, by Bernstein Research. IAL aims to accelerate capturing the upside in the fintech space on the back of its full-stack digital- payment & platform offering. The Company plans to raise capital through a primary mode, and aims to bring on-board long-term strategic and financial investorsto make Infibeam Avenues a globally renowned fintech company.
The Company will channelise the investment in strengthening payment offering (acquiring and issuance), lending platform, enterprise software platform, international expansion, payment network license (upon RBI approval), business development and inorganic opportunities in India and internationally.
"Our strategy is to rapidly scale by extending our existing business to new areas of growth in digital payments, marketplace platforms and enabling lending. We plan to become a truly global full-stack fintech company and pride on having our roots in India. We will partner with the best investors to accelerate investments for building superior fintech platforms to take the company to the next level of growth.", said Mr. Vishal Mehta, Managing Director, Infibeam Avenues Limited.
"We have accelerated our payment processing through a structured process of merchant acquisition, small and large, and banking partnerships in the quarter which has helped us to build a strong growth pipeline for future, accelerating our journey to achieve the targeted TPV of $100bn. We are seeing a strong traction in our secured lending business which has grown 3x QoQ to an annualised run-rate of $600mn. We will continue to expand our entire fintech portfolio thru innovations and partnerships to bolster the large headroom for growth in India, as well as expand internationally.", said Mr. Vishwas Patel, Executive Director, Infibeam Avenues Limited, and Chairman, Payments Council of India.
"During the quarter we have achieved exponential overall growth where we have implemented several large complex programs across digital verticals and went live with some large enterprises. We expect this growth to continue as the market dynamics has changed and is recovering fast from the pandemic. We will invest further for digital push in India.", said Mr Hiren Padhya, Chief Financial Officer, Infibeam Avenues Ltd.
Shares of Infibeam Avenues Limited was last trading in BSE at Rs. 45.65 as compared to the previous close of Rs. 44.90. The total number of shares traded during the day was 470918 in over 1461 trades.
The stock hit an intraday high of Rs. 46.85 and intraday low of 45.10. The net turnover during the day was Rs. 21589389.00.