Infibeam Avenues Q4 PAT up 33 per cent to ₹32 cr

Announcing its financial results, financial technology solutions provider Infibeam Avenues Ltd (IAL), on Thursday said profit after tax (PAT) for the fourth quarter ended March 31, 2021, came in at ₹32 crore, up 33 per cent from the corresponding period of previous year’s ₹24 crore.

Sequentially, PAT was up a huge 146 per cent from ₹13 crore in Q3 of 2021.

Gross revenue in Q4FY21 stood at ₹201 crore, up 41.55 per cent against ₹142 crore in the same period previous year. Sequentially, it was down 12 per cent from ₹228 crore in Q3FY21.

Speaking to

BusinessLine , R Srikanth, Group President Corporate Finance and Investor Relations, said, “Our transaction processed value (TPV) in Q4FY21 climbed 27 per cent sequentially to ₹50,391 crore ($7 bn). For FY22, we expect a run-rate of over ₹2-lakh crore ($28 bn).”

“Infibeam’s cash and cash equivalents are up 80 per cent to ₹178 crore as of March 31, 2021. Out debt is negligible and we have been consistently free cash flow positive,” he added.

On the new business -- the fintech solution CCAvenue Payment Gateway Services, he said the company is tying up with the two largest Omani Banks, Bank Muscat and BankDhofar.

Outlook

On the growth outlook, Srikanth said Infibeam is eyeing an increase in TPV to $100 bn in three to five years from the FY22 run-rate of $28 bn, and increase in secured lending under the Neo banking -- from $100mn to $200mn in FY22.

He expects EBITDA as a percentage of net revenue to improve from 61 per cent in FY21 to 65 per cent in FY22.