Infibeam Incorporation Limited (which is now changing its name to the much friendlier Infibeam Avenues Limited, after officially merging with the entity that runs CCAvenues) posted a net profit of Rs 20.8 crore this quarter, a 53% increase from the same quarter in the previous year. In 2018, the company’s annual net profit grew by 102%, nearly double the annual growth. The company said that CCAvenue and other transaction-related products drove most of the profits.
Infibeam runs an e-commerce platform, owns the payments platform CCAvenue, and is the government’s official partner for GeM (the government e-marketplace). It also provides full online marketplace services to Amul and the Adani Group’s Fortune brand.
Other financial results
Infibeam’s services segment includes BuildaBazaar platform which provides cloud-based solutions for merchants. BuildaBazaar earns by charging a set-up cost to merchants, as well as through monthly fee and a per-transaction commission. It’s essentially a Marketplace-as-a-Service (MaaS) model.
— Merchant growth on the Infibeam platform was at 32% year over year, at 94,109 merchants in Q4. Registered merchants on Infibeam Web Services numbered over 400,000. Infibeam didn’t provide an exact number here, and added a caveat for what counts as a registered merchant.
— EBITDA was Rs 39.05 crore, which was up on a y-o-y basis, but declined on a quarter-on-quarter basis.
— The service segment’s revenue grew by 207% and 239% on a quarterly and annual basis respectively.
Recent Infibeam moves
- Earlier this month, Infibeam acquired Unicommerce, a “cloud-based inventory management” company. Unicommerce was a wholly owned subsidiary of Snapdeal before the acquisition.
- The company is also making moves into the payments processing scene in the Middle East. It acquired Vavian International Limited, a payments processing company headquartered in Dubai, for around $1.2 million.
- The company launched BillAvenue under the Bharat Bill Payments System in November last year, for utility and service recharges.
- In April, Network18’s venture investment arm pumped ₹40 crore into Infibeam, with a stated long-term aim to integrate Infibeam’s services into Network18 offerings.