Infibeam Avenues Q2 results: Profit up 53% at Rs 18.58 crore
Net sales came in at Rs 311 crore in the September quarter, up 102.07 percent from Rs 153.90 crore in the year-ago period
October 28, 2021 / 07:01 PM IST
Infibeam Avenues on October 28 reported a standalone net profit of Rs 18.58 crore for the quarter ending September 2021, up 53 percent from the year-ago period.
The IT services management firm had recorded a net profit for Rs 12 crore in the second quarter of last year, the company said in an exchange filing. PAT stood at 13.38 crore in June 2021 quarter.
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Net sales came in at Rs 311 crore in the September quarter, up 102.07 percent from Rs 153.90 crore in the year-ago period.
EBITDA was at Rs 36.42 crore, down 3.45 percent from Rs 37.72 crore in the year-ago quarter.
The firm is mulling to raise capital through primary mode and is aiming to bring on board long-term strategic and financial investors.
"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 will partner with the best investors to accelerate investments for building superior fintech platforms to take the company to the next level of growth," Infibeam Avenues Limited's Managing Director Vishal Mehta said in a press statement.