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Infibeam Avenues reports weak Q4 result

Business Finance

Capital Market 

Infibeam Avenues reported 61.3% fall in consolidated net profit to Rs 29.24 crore on 55.3% fall in total income to Rs 159.09 crore in Q4 March 2020 over Q4 March 2019.

The announcement was made after market hours yesterday, 5 June 2020. Shares of Infibeam Avenues gained 3.63% to close at Rs 57.05 on 5 June 2020.

Consolidated EBITDA fell 3% to Rs 49.10 crore in Q4 March 2020 over Q4 March 2019. EBITDA margin rose to 36% in Q4 March 2020 from 27% in Q4 March 2019.

The board of directors considered and approved acquisition of 100% shareholding in Cardpay Technologies Private Limited. Consequently, Cardpay Technologies Private Limited will become a wholly owned subsidiary of the company.

Infibeam Avenues is one of the leading global financial technology company offering digital payment solutions and enterprise software platforms to businesses and governments across industry verticals. The company's payment solution provides over 200 payment options to the merchants allowing them to accept payments through website and mobile devices in 27 international currencies.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Sat, June 06 2020. 16:06 IST