The e-commerce player, Infibeam Avenues Limited on Friday registered standalone net profit of Rs 10 crore for the quarter September 2019, as against net loss of Rs 4.5 crore in the corresponding quarter last year.

Total income from operations stood at Rs 153.5 crore for the quarter under review as compared to Rs 135 crore in the same quarter last year. The company declared an interim dividend of Rs 0.10 or 10 per cent per equity share of Re 1 each.

For the half-year period, company's standalone net profit stood at Rs 20 crore as against net loss of Rs 18.4 crore. Total standalone income from operations for the period stood at Rs 320 crore as against Rs 226 crore in the same period last year. On consolidated basis, company posted net profit of Rs 26 crore for the second quarter ended September 2019, sharply up from Rs 7 crore reported for the same period last year.

Total consolidated income from operations stood at Rs 168 crore as against Rs 284 crore in the same quarter last year. Notably, company had reported other expenses of Rs 66 crore for the September quarter last year, the same was reported at Rs 7 crore in the quarter under review.

Commenting on the performance, Vishal Mehta, Managing Director, Infibeam Avenues Ltd, said, "During the quarter we have taken initiatives to grow our digital payment and enterprise software platform in India and international markets while focusing on delivering robust operational performance. We have made strategic alliances and launched our payments platform in Saudi Arabia and plan to further expand in other international markets."

Infibeam Avenues shares gained over 3 per cent on Friday to close at Rs 47.15 on BSE.

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