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Infibeam net profit at Rs 21.6 crore in Q2FY18; CCAvenue processed Rs 4,579 crore

E-commerce and web services company Infibeam posted a net profit of Rs 21.6 crore for the September quarter (Q2FY18), growing 9.64% from Rs 19.7 crore in the preceding quarter. On a year-on-year basis, net profit was up 177% from 7.8 crore. Profitability was primarily driven by the web services segment. The management added that it is tweaking its business model and moving to a subscription and transaction-based model where it would add earnings from its payments arm CCAvenue. "The Company’s focus is to earn revenue on every transaction executed on our platform including earning the recurring subscription income on our SaaS-based platforms," it said. Total revenue grew 76% to Rs 201.6 crore from Rs 114.7 crore in the same quarter last year. Total revenue stood at Rs 184.6 crore last quarter representing a growth of 9.2% sequentially. EBITDA stood at Rs 40.4 crore in…

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