Infibeam Avenues CEO Announces Major Profit Surge and Strategic Business Shift

Infibeam Avenues has reported a significant profit boost, with a 70% increase in profit after tax for the June quarter, reaching Rs 85.50 crore. This growth is attributed primarily to improved pricing control through AI technologies, enhancing both monetization and the merchant experience.

On the strategic front, the company has decided to transfer its e-commerce platform infrastructure business to Rediff.com India Ltd in a deal valued at Rs 800.39 crore. This transaction will involve Rs 400 crore in cash and the rest in new equity shares, raising Infibeam's stake in Rediff to 82.7% pending shareholder approval.

As part of its future vision, Infibeam is set to focus heavily on digital payments and AI advancements through its platforms CCAvenue and Phronetic.AI, whereas Rediff is probing capital-raising avenues, including a potential IPO to expand its enterprise SaaS and digital commerce presence.

(With inputs from agencies.)