This penny stock recorded astonishing operating and financial performance in Q1FY23

Overall growth on account of surging digital transactions on return of high demand and increased economic activities.

India’s first listed and leading fintech solutions provider company, Infibeam Avenues Ltd. (Infibeam) has announced its financial results for the quarter ended June 30, 2022.

The company has shown stellar growth on account of surging payment transactional volume due to the return of high demand and increased economic activities. The enormous rise in digital payment transactions is being registered from across industries like travel & tourism, aviation, hotel booking, discretionary spends, lifestyle (fashion items), retail, and more that saw relatively lower economic activity in FY 2021 and FY 2022. 

Here are the important highlights

• Transaction Processed Value (TPV) was up 72 per cent to Rs 87,218 crore compared to Rs 50,651 crore in Q1FY22.
•  India payment processing net take rate up by 26 per cent YoY at 6.9bps, as volume from profitable sectors increase.
• Gross Revenue was up by 93 per cent, at Rs 418 crore, compared to Rs 216 crore in Q1FY22.
• EBITDA stood at Rs 43 crore, a growth of 51 per cent YoY.
• EBITDA margin on Net Revenue was 58 per cent vs 54 per cent YoY.
• Profit After Tax up by 69 per cent YoY to Rs 23 crore.
• Profit After Tax margin on Net Revenue was 31 per cent vs 26 per cent YoY.
• Launched CCAvenue mobile app, world’s most advanced omni-channel payment app in July, featuring India’s first pin-on-glass SoftPoS solution – CCAvenue TapPay targeting offline merchants.
• Overall growth on account of surging digital transactions on return of high demand and increased economic activities.

The stock has advanced by 10.42 per cent in the last one week, while in the last one month it is up by nearly 21 per cent.

Watch out for this stock on Friday.