Fintech major, Infibeam Avenues posted a consolidated net profit of Rs 55 crore for the quarter that ended September 30, 2024—a 43% jump compared to the corresponding period a year ago. As the company continues to bet big on its Payment and AI business, it forays into the Business Productivity Software space and soon plans to release RediffOne – a complete suite for enterprise solutions.

The company, which operates the well-known payment gateway brand CCAvenue, achieved consolidated gross revenue of Rs 1,016.6 crore in the second quarter of FY25. This represents a 29% year-on-year growth from Rs 787 crore in Q2FY24. Notably, this is the first instance in which Infibeam has surpassed Rs 1,000 crore in gross revenue in any quarter.

Additionally, Infibeam’s take rate improved significantly, reaching 11.3 basis points in Q2FY25, a 21.5% increase from the previous year, which has substantially enhanced its profitability. The company attributes this growth primarily to a rise in payment transactions driven by increased ticket bookings, travel arrangements, hotel reservations, and a greater acceptance of digital payment solutions by educational institutions.

Commenting on the results, Vishal Mehta, Chairman and Managing Director of Infibeam Avenues, shared, “In the second quarter, we achieved strong financial performance, focusing on profitable growth. We’re enhancing our operations to make the most of opportunities in digital payments and fintech while advancing productivity software programs under Rediff One and our AI initiatives.”

Mehta added that as Infibeam develops its AI and Business Productivity Software segments, digital payments will continue to play a central role in the company’s growth journey.

The global market for business productivity management software was valued at USD 59.88 billion in 2023 and is projected to grow at a CAGR of 14.1% from 2024 to 2030. The increasing demand for centralized digital workplaces is driving opportunities for various software solutions. As organizations focus on enhancing employee productivity, streamlining operations, and optimizing resource utilization, the demand for productivity management software is expected to rise.

According to data by FORBES advisor, 60% of workers feel increased burnout due to digital communication, which can be tackled by using productivity management software.

“This initiative marks a significant step forward as the company builds a robust ecosystem of productivity management software products that empower both individual users and enterprises, strengthening Infibeam’s position as a leader in digital transformation solutions,” says the company’s statement.

As per company’s statement to the stock exchanges, the company also plans to develop and innovate new AI products to enter into various sectors, offering AI solutions. Phronetic.AI is also developing a new Human-Computer Interface (HCI) that will revolutionize video interactions during chats, allowing for immersive communication that goes beyond text and voice. Once developed, the company plans to commercialize its AI products based on HCI technology, targeting customer support and the sports sector, particularly through AI-powered coaches and umpires.

The global Human-Computer Interface (HCI) market size is estimated to be worth USD 668.36 billion in 2023 and is projected to reach USD 1555.50 billion by 2028, growing at a CAGR of 18.5%. The industry is experiencing growth due to the increasing business automation, driven by Industry 4.0 and the need for efficient control and monitoring of complex processes.