Infibeam Avenues Q2 operational revenue tops Rs 1,000 crore, profit at Rs 47 crore
Infibeam Avenues, which runs payment gateway CCAvenue, reported a total operational revenue of Rs 1,016 crore in the September quarter of FY24, up almost 30% from Rs 787 crore a year ago.
Its net profit for the quarter stood at Rs 47.4 crore, up 16.7% from Rs 40.6 crore a year earlier.
While the company saw its operational revenue grow steadily, its expenses shot up too. In the second quarter of the current fiscal, Infibeam Avenues reported total expenses of Rs 957 crore, up 30% from Rs 734 crore. A major chunk of the company’s expenses are operational expenses, part of which is a payment processing charge which it needs to pay banks for settling transactions generated via the CCAvenue gateway.
In the September quarter, CCAvenue reported a total payment volume (TPV) of Rs 2 lakh crore. A year back its TPV stood at Rs 1.7 lakh crore.
Infibeam Avenues runs two major business units: the payment gateway operations through CCAvenue, and a platform business for ecommerce operations.
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