Infibeam Avenues gains after board appoints Sunil Bhagat as CFO & KMP

Infibeam Avenues rose 1.43% to Rs 21.30 after the board on 15 March 2022 approved the appointment of Sunil Bhagat as the chief financial officer (CFO) and key managerial personnel (KMP) of the company with effect from 19 March 2022.

Meanwhile, the board has accepted Hiren Padhya whose resignation as chief financial officer (CFO) and key managerial personnel (KMP) of the company with effect from 18 March 2022.

Sunil Bhagat is a qualified Chartered Accountant (CA) with experience of over 22 years in accounts and audit, taxation, corporate finance, financial control and strategic planning for leading firms in technology and manufacturing.

The net profit of Infibeam Avenues jumped 44.29% to Rs 25.02 crore in the quarter ended December 2021 as against Rs 17.34 crore during the previous quarter ended December 2020.Net sales soared 74.27% to Rs 397 crore in the quarter ended December 2021 as against Rs 227.81 crore during the previous quarter ended December 2020.

Infibeam Avenues is a leading digital payments and e-commerce technology platforms company in India and provides a comprehensive suite of web services spanning digital payment solutions, data centre infrastructure and software platforms.

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