Infibeam’s profit gets a boost with digital adoption

Infibeam reported another strong growth mainly due to its flagship product Infibeam WebServices (IWS), which grew by 252 per cent YoY in Q3 FY18 and generated 45 per cent EBITDA margin. The revenue contribution from IWS segment has increased to 66 per cent in Q3 FY18 from 39 per cent in Q3 FY17. According to the company, its IWS revenue grew 252 per cent year-on-year to Rs 1,415 million. While its IWS EBITDA grew 162 per cent year-on-year to Rs 631 Million. It further said that significant growth in transaction led services compared to subscription based services largely contributed to the high revenue growth and to rising profitability. India’s only listed ecommerce player, Infibeam Corporation registered a robust revenue and net profit growth due to strong digital adoption and consumption. It plans to focus on growing transaction services domestically and internationally to benefit from the growing trend of ecommerce.

The company will continue to remain focused on growing its transaction-based revenue stream by providing more innovative digital solutions to brand and retailers thereby increase revenue per merchant. Consolidated revenue and profits increased significantly during the December 2017 quarter due to increased transaction on Digital Platform and VAS services. Its consolidated Q3 FY18 revenue grew 108 per cent year-on-year to Rs 2135 million. The revenue contribution from IWS Segment has increased to 66 per cent in Q3 FY18 from 39 per cent in Q3 FY17.

The company has also proposed appointment of Vishwa Ambalal Patel, Ffounder of CC Avenue and Piyush Kumar Sinha, faculty in marketing and retailing at Indian Institute of Management - Ahmedabad (IIM-A) as additional director and non-executive independent director. It has raised Rs 40 crore from TV18 Broadcast.