The company said the comparable revenue of core business increased by 12 per cent year-on-year.
The company had reported a consolidated net profit of Rs 12.6 crore in the April-June 2018 period.
Infibeam's move assumes significance as it comes just ahead of the e-commerce company’s annual general meeting scheduled for July 30.
The net profit stood at about Rs 22 crore in the January-March 2018 period, Infibeam said in a NSE filing.
Shapoorji Pallonji Mistry is an angel investor and owns minority stake in Suvidhaa.
Both companies are planning to develop an omni-channel marketplace, whereby Infibeam.com will be connected to Suvidhaa's vast network of 91,000 outlets under 4,500 pin codes, a statement said.
Infibeam Avenues stock fell sharply in September from Rs 239 on September 17 to Rs 58.45 on September 28, followed by gradual downtrend to close at lowest level of Rs 28.95 on October 29, 2018.
Most technical experts feel that the momentum is likely to continue in December as well. The Nifty50 which reclaimed 10,800 is on track to hit 11,000 in this year as well.
Supertrend indicator as well trend-following momentum indicator, Moving average convergence divergence (MACD) has given a sell signal on charts
KR Choksey recommended accumulate rating on Infibeam Avenues with a target price of Rs 256 in its research report dated August 27, 2018.
Its net profit stood at Rs 12.72 crore in the year ago period, the Ahmedabad-based firm said in a statement.