Eraaya Lifespaces subsidiary EbixCash reports strong Q2 performance

EbixCash offers a range of services, including mobile payments through the EbixCash Wallet app for bill payments, travel bookings, and money transfers.

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Eraaya Lifespaces has shared the latest business outlook for its Indian subsidiary, EbixCash, highlighting robust performance across its key verticals.

In the foreign exchange sector, the company achieved a gross revenue of approximately Rs 198 crore (or $23.57 million) for Q2 FY25. EbixCash's Foreign Exchange Division posted a GMV of Rs 7,762 crore (or $935 million) and gross revenue of Rs 180 crore ($21.42 million), backed by strong EBITDA figures.

"The forex vertical continues to experience growth, particularly in student remittances and corporate sectors, with new partnerships from notable corporations and educational agents," Eraaya said.

EbixCash's Banknotes Vertical also strengthened its position, partnering with new banks and integrating five-star hotels into its network. Meanwhile, EbixCash Globetrotter Travel continued to expand, emerging as a favorite among students and leisure travellers.

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The EbixCash World Money's One World Globetrotter Travel Card, offering global transactions without cross-currency fees, positions EbixCash competitively in the international travel market. EbixCash World Money is also enhancing its distribution network, adding operations at two international airports—Aurangabad and Surat—and expanding into key cities such as Varanasi, Kolhapur, and Udaipur. This expansion aims to deepen penetration into retail, corporate, and student segments.

The EbixCash Payment Service division continues to dominate the B2B market for ticket issuance through IRCTC. Soon, the UPI service will also be available at airport counters for foreign nationals.

EbixCash offers a range of services, including mobile payments through the EbixCash Wallet app for bill payments, travel bookings, and money transfers. It provides both domestic and international money transfer options, as well as foreign exchange services. Additionally, EbixCash offers prepaid and corporate gift cards, travel agency services, insurance solutions, and digital payment solutions.

At 10.30 AM, shares of Eraaya Lifespaces were up 0.8 percent at Rs 2,010 on the BSE.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.