Infibeam Q2 net falls 35%; to invest in So Hum Bharat Digital Payments

Infibeam Avenues on Thursday reported a 34.5 per cent decline in net profit at Rs 8 crore for the three months ended September.

The company has also decided to invest in So Hum Bharat Digital Payments to apply to the RBI for a New Umbrella Entity (NUE) license for retail payment systems.

It had posted a net profit (excluding share of associates) at Rs 12.22 crore in the year-ago period, Infibeam Avenues said in a regulatory filing.

The company offers digital payment solutions and enterprise software platforms to businesses and governments across industry verticals.

Its consolidated income from operations dropped 8.5 per cent to Rs 153.9 crore in the quarter under review. In the year-ago period, the same stood at Rs 168.3 crore.