Infibeam Avenues jumps 5% on AI order win from hospitals, gas stations
Infibeam Avenues share price surged as much as 5.13 per cent at Rs 32.37 a piece per share on the BSE in Wednesday's intraday trade
 "Infibeam Avenues jumps 5% on AI order win from hospitals, gas stations")
Infibeam Avenues share price surged as much as 5.13 per cent at Rs 32.37 a piece per share on the BSE in Wednesday’s intraday trade.
Infibeam Avenues share price moved up after the company’s artificial intelligence arm Phronetic.AI secured two major contracts that will bring its Theia Vision AI technology to regional hospitals and an international gas station chain.
At 11:32 AM; the shares of the company pared some gains and was1.98 per cent higher at Rs 31.40 per share. By comparison the BSE Sensex was up 0.17 per cent at 81,849 levels.
The total value of the contracts is expected to be $1 million per annum, while the total tenure for each contract with five hospitals in India and the UAE-based gas station chain is five years with optionality to extend further.
The company’s contracts with the five leading hospitals for its Phronetic.AI’s 'Theia Vision AI' technology product will be integrated across multiple facilities within the hospital.
Simultaneously, Phronetic.AI has also secured a global contract with a UAE-headquartered gas station chain, a leading name in the energy sector. The deployment of the Vision AI product – ‘AI Facility Manager’ across the chain's gas stations will focus on enhancing security, improving customer service, and optimising operational workflows.
For the April-June quarter of financial year 2024-25 (Q1FY25) Infibeam Avenues reported a revenue increase of 1 per cent year-on-year to Rs 752.8 crore for Q1 FY25.
Meanwhile, the company's net profit surged 168.69 per cent year-on-year to Rs 70.02 crore in Q1 FY25, with a quarterly profit growth of 40.97 per cent.
The company has a total market capitalisation of Rs 8,757.74 crore. Its shares are trading at a price to earnings multiple of 54.82 times with an earning per share of Rs 0.56.
The stock price of the company has zoomed 42.52 per cent year to date, while soaring 123.45 per cent in the last one year.
Infibeam Avenues is an e-commerce and payment solutions provider to businesses and the government.
It is primarily engaged in business of software development services maintenance web development payment gateway services e-commerce and other ancillary services. It provides a comprehensive suite of digital payment solutions (Payments) & enterprise marketplace software platforms (Platforms) along with data centre services.