Infibeam Avenues announces June Quarter 2020 Results

Leading global Financial Technology (Fintech) solutions provider Infibeam Avenues Limited ("Infibeam" or "The Company" or "IAL") (BSE: 539807; NSE: INFIBEAM), today announced its consolidated financial results for the quarter ended June 30, 2020.

The Company is well positioned to capture growth from the ongoing digital transformation led by both consumers and enterprises, which has been further accelerated by the prevailing pandemic situation. The Company has channelized all the seven high growth Fintech platform comprising - Payment Gateway and white label solution (CCAvenue), Bill payments (BillAvenue), Hospitality Solution (ResAvenue), B2B Payments and white label solution (B2Biz), Payment processing for financial institutions (CCAvenue PG ServicesCPGS), Digital lending and card issuance (CCAvenue Finance) and Enterprise Platform for eCommerce to support the economic recovery of businesses. Further, as our Fintech Platform is capable of generating significant processing traffic, we are broadening and diversifying merchant base across the business verticals globally by addressing changing preferences in a post-COVID-19 environment.

Performance Highlights - Q1'21 (Consolidated)

- Revenue was Rs. 103 crore, down 24% QoQ
- EBITDA margin was 38.0% at INR 39 crore, up 190 bps QoQ
- Profit After Tax was Rs. 12 crore, down 39% QoQ
- Payments TPV* was INR 14,200 crore, down 16% QoQ
- Number of payment transactions processed, 36 mn, down 10% QoQ
- Number of Bills Processed thru BillAvenue: 2.6 mn up 12% QoQ, 66% YoY
- Amount of Bills Processed thru BillAvenue: Rs. 168 crore up 9% QoQ

If not for COVID, the performance would have been1;

- Revenue: Rs. 160 crore, up 16% QoQ
- EBITDA: Rs. 53 crore, up 8% QoQ
- PAT: Rs. 24 crore, up 28% QoQ (excl exceptional gain in Q4'20)
- Payments TPV*: approx. Rs. 20,000 crore, up 19% QoQ
- Payments Volume: 45 mn, up 13% QoQ

"We remain focused in driving on the long-term growth strategy which includes new business offerings and expansion to new geographies for creating true value for our consumers, business customers and stakeholders. The Company has successfully built a strong business over the years and strived to enhance business value while driving strong revenue and profit growth", said Mr. Vishal Mehta, Managing Director, Infibeam Avenues Limited.

"Our EBITDA margin improved to 38.0% vs 29.8% in Q1'20 and 36.1% in Q4'20 on account of cost optimisation measures and efficiency parameters. Our new business and international expansion will exponentially increase volume and thus earning improvement in take rates, profitability margins and cash flows.", said Mr Hiren Padhya, Chief Financial Officer.

Shares of Infibeam Avenues Ltd was last trading in BSE at Rs.77.9 as compared to the previous close of Rs. 76.4. The total number of shares traded during the day was 27461 in over 339 trades.

The stock hit an intraday high of Rs. 79.1 and intraday low of 75. The net turnover during the day was Rs. 2127575.

1 based on pre-COVID run-rate in Mar'20, and take rate, EBITDA and PAT margins of FY20
* TPV - Transaction Processed Value

Source : Equity Bulls

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