Infibeam's Q1 profit falls 12% as expenses outpace revenue surge

Profit after tax attributable to owners fell 12.3% year-on-year to Rs 61.25 crore in the quarter ended June 30, 2025 (Q1 FY26) from Rs 69.85 crore a year earlier.

Revenue from operations rose 71.8% to Rs 1,280.21 crore from Rs 745.06 crore, while total income increased 69.3% to Rs 1,306.51 crore from Rs 771.51 crore.

Operating expenses climbed 79.5% to Rs 1,128.19 crore from Rs 628.58 crore. Employee benefits expenses grew 14.0% to Rs 39.12 crore, and other expenses surged 219.9% to Rs 41.91 crore. Total expenses were up 77.2% at Rs 1,229.32 crore compared with Rs 693.7 crore in the year-ago period.

The payments business generated Rs 1,226.48 crore in revenue, up 74.0% from Rs 704.78 crore, with profit rising 49.0% to Rs 51.16 crore from Rs 34.33 crore. Meanwhile, the ecommerce platform segment recorded Rs 53.73 crore in revenue, a 33.4% increase from Rs 40.28 crore, and profit of Rs 31.7 crore, up 52.1% from Rs 20.84 crore.

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On the payments side, CCAvenue continued to add over 2,000 merchants daily in Q1 FY26, with more than 70% of TPV coming from MDR-based options and a low reliance on zero-MDR UPI. In its international operations, about 46% of TPV was driven by credit card transactions. The company said it has yet to receive UPI dues from banks.

Infibeam Avenues Ltd’s UAE-based payments business, operated under the CCAvenue International brand, has reached an annualised transaction processing value (TPV) run-rate of over AED 12 billion in FY26.

The UAE subsidiary is the operational base for all Infibeam businesses outside India. The company plans to expand into Saudi Arabia in FY26 and enter Australia and the United States by FY27, with a target of generating 12–15% of its payments net revenue from international markets by FY28.

Infibeam first entered the Middle East market in June 2018 and claims it became the second-largest non-bank private payment player in the UAE within 18 months. It works with leading banks in the region, including Mashreq Bank in the UAE and the top three banks in Oman.

Infibeam Avenues used its June quarter earnings presentation to outline a string of product launches, strategic shifts, and expansion plans alongside its financial results.

The company announced plans for what it calls a “first-of-its-kind” Global Agentic AI Marketplace in Mumbai, which will allow developers, enterprises, and individuals to build, buy, sell, and operate AI agents as functional digital co-workers.

It is also advancing into AI-driven data centres, with a roadmap to set up 12 small-city facilities of 1–2 MW each to support large-scale AI adoption.