Revenue from operations was at Rs 912 crore in Q3 FY24, steeply higher than Rs 414.7 crore in Q3 FY23.

Profit before tax increased 26.36% YoY to Rs 56.14 crore in Q3 FY24.

In Q3 FY24, EBITDA stood at Rs 69 crore, registering the growth of 45% as compared with Rs 47.5 crore posted in corresponding quarter last year. EBITDA margin improved to 61.2% in Q3 FY24 as against 56.2% in Q3 FY23.

During the quarter, TPV jumped 75% to Rs 1,81,019.7 crore, with payment TPV increasing by 32% to Rs 70,900 crore and platform TPV by 134% to Rs 98,100 crore, the increased transactions (TPV) were predominantly driven by growth in the hospitality, travel, telecom, airline travel, and hotel sectors.

The company said that a constant rise in the number of merchants has been a key contributor to Q3 growth, with approximately 228,000 merchants added during the quarter, averaging approximately 2,500 daily.

The company expected to maintain its financial guidance for FY24 of, Rs 3000-3300 crore of Gross Revenue, Rs 410-415 crore of Net Revenue, Rs 230-235 crore in EBITDA and Rs 130-150 crore of Profit after Tax.

Vishal Mehta, chairman & managing director, Infibeam Avenue, said, “Over the past several years, we have been forward investing in new technologies and have successfully continued our upward growth trajectory. Whether it is in the case of our payment business vertical or platform business vertical, we have been tireless in our efforts to innovate and grow. Now, we have added Artificial Intelligence (AI) as a horizontal business vertical supporting Platforms and Payments.

The third quarter (Q3) has witnessed strong growth, and it expect the same for the coming quarters. However, taking a long-term view after adding AI as our new major business growth driver, we expect to scale our revenue and profits. We are excited about the future and look forward to continuing to innovate and grow."

Meanwhile, the company’s board has approved to acquire 49.50% stake from existing shareholders of So Hum Bharat Digital Payments (So Hum) for total consideration of Rs 45 Lakhs. Post acquisition So Hum would become a wholly owned subsidiary of the company.

Infibeam Avenues is one of the leading global financial technology (fintech) company offering comprehensive digital payment solutions and enterprise software platforms to businesses and governments across industry verticals. The company's payment infrastructure solution includes acquiring and issuing solutions and offering infrastructure for banks.

The scrip declined 1.76% to Rs 25.62 on the BSE.