Stock below Rs 20: This small-cap Fintech stock reports robust Q1FY24 results!
The net profit of the company jumped by 40 per cent and stood at Rs 32 crore as against to Q1FY23.
Infibeam Avenues Ltd is a global fintech leader offering digital payment solutions and enterprise software platforms to businesses and governments. Their payment infrastructure includes acquiring and issuing solutions, while their core Payment Gateway service enables merchants to accept payments in over 200 options and 27 currencies. With a vast client base of 10 million, the company processed INR 4.5 lakh crore transactions in FY23. They operate internationally and have a presence in Oman, collaborating with major banks.
On August 9, 2023, Infibeam Avenues reported their stellar Q1FY24 results in which sales of the company surged significantly by 77 per cent and stood at Rs 742 crore as compared to Q1FY23, while adjusted EBITDA of the company grew by 31 per cent to Rs 56 crore as compared to Q1FY23. Similarly, net profit of the company jumped by 40 per cent and stood at Rs 32 crore as against to Q1FY23. Furthermore, the company has been able to grow its sales by 46 per cent (CAGR) for the past 3 years and net profit has grown by 11 per cent (CAGR) for the same period.
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The company has delivered returns of 2 per cent over the past year and negative returns of 14 per cent over the past 3 years. Moreover, the company has a ROCE of 6.01 per cent and a ROE of 4.45 per cent.
On Thursday, shares of the company surged by more than 2 per cent and made an intraday high of Rs 15.16. Additionally, the scrip had a spurt in volume by more than 1.25 times.
Investors should keep a close eye on this trending small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.