EBITDA stood at Rs 67.8 crore during the quarter, was up 70% as compared with Rs 40 crore recorded in corresponding quarter last year. EBITDA margin was at 61% in Q2 FY24 as against 51% in Q2 FY23.

During the quarter TPV stood at Rs 1,78,523.5 crore, was up 79% as compared with Rs 1,00,000.3 crore in Q2 FY23.

The rise in total TPV can be attributed to both a rise in payments as well as platforms TPV. While payments TPV rose 28% YoY to Rs 7.69 crore, the company’s largest software platform implementation customer recorded a growth in TPV by 155% to Rs 1,01,600 crore in a single quarter.

The company's payment net take rates experienced a significant increase in Q2 FY24, up 25% YoY to 9.3 basis points (bps), primarily due to a substantial influx of small merchants who, in turn, made the most substantial contribution to the surge in Infibeam Avenues’ payment business net take rates. Payment net take rate is now inching closer to the targeted double-digit take rate by the end of FY24.

On half-year basis, the company's net profit increased by 3.95% to Rs 67.04 crore compared to Rs 64.49 crore recorded in H1 FY23 on 71.21% increased in revenue from operation to Rs 1,532.29 crore in H1 FY24 over H1 FY23.

Vishal Mehta, chairman & managing director (CMD) of Infibeam Avenues, said, “Our payments and platform business is now firmly established and has become the growth engine for the company. In the years to come, it will continue to be the driving force behind our success. This quarter, we have experienced remarkable growth, as we continue to invest in innovative and robust solutions."

Vishwas Patel, joint managing director of Infibeam Avenues, said, “In Q2 FY23-24, we witnessed an unprecedented onboarding of merchants, primarily small businesses. This influx has resulted in a higher take rate, in addition to our exceptional performance in the domestic market, our payment business, CCAvenue, is experiencing significant growth in the international market, particularly in the UAE. In August, we achieved a historic milestone by recording a monthly transaction volume of AED 1 billion in the UAE.”

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.