Infibeam Avenues Ltd

Infibeam Avenues has announced signing of a strategic MoU for Research and Development (R&D) with the Indian Institute of Sciences (IISc) Bangalore, one of the world's top-ranking universities known for its research excellence. This collaboration aims to research and develop advanced real-time deepfake detection systems designed to enhance digital security for government entities, corporations, and organizations, effectively combating the rising threat of AI-generated deception. As deepfake technology continues to evolve, it poses significant risks to personal and corporate integrity. These sophisticated AI-generated media can create hyper-realistic but false representations of individuals and events, leading to misinformation, cyberbullying, harassment, financial fraud, and identity theft. Such threats have far-reaching implications for businesses, government institutions, and the general public. A notable incident highlighting the urgency of this issue occurred in January 2024, when a Hong Kong-based multinational company lost approximately $25 million (around Rs 207 crore) due to a deepfake scam. Scammers executed a convincing live video call using deepfake technology to impersonate company executives, leading to a severe financial loss before the deception was uncovered. (Source: South China Morning Post and Business Insider). Under the terms of the Memorandum of Understanding (MoU), Infibeam Avenues Ltd's AI business unit, Phronetic.AI, and the IISc team will collaboratively develop anti-deepfake technology specifically tailored for real-time video communication. The partnership will focus on selecting the most effective detection models for various scenarios, ensuring that real-time deepfake detection operates efficiently and cost-effectively at scale. Powered by Capital Market - Live

Infibeam Avenues announced that its subsidiary, Rediff.com India, has been granted a Third-Party Application Provider (TPAP) license by the National Payments Corporation of India (NPCI) for its digital payment platform, RediffPay. As per the official communication received by Rediff from National Payments Corporation of India (NPCI) on Friday, it has been informed about the approval of TPAP license and also that Axis Bank will act as Payment System Provider (PSP) bank. This license enables RediffPay to offer Unified Payments Interface (UPI) services to its users, marking Infibeam Avenues' strategic entry into the consumer-facing digital payments sector. The company had previously applied for the TPAP license following its acquisition of a controlling stake in Rediff in 2024. RediffPay aims to leverage Rediff's substantial web traffic and Infibeam's fintech expertise to provide a user-friendly platform for secure and efficient digital transactions. The company plans to introduce a range of financial services, including credit and wealth management products, to cater to the diverse needs of its users. This development follows Infibeam Avenues' recent achievements, including receiving the final authorization from the Reserve Bank of India to operate as a Payment Aggregator for its flagship payment gateway brand, CCAvenue. Powered by Capital Market - Live

Net profit of Infibeam Avenues rose 42.63% to Rs 62.40 crore in the quarter ended December 2024 as against Rs 43.75 crore during the previous quarter ended December 2023. Sales rose 18.00% to Rs 1070.35 crore in the quarter ended December 2024 as against Rs 907.10 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales1070.35907.10 18 OPM %7.317.21 - PBDT103.2471.12 45 PBT84.3154.32 55 NP62.4043.75 43 Powered by Capital Market - Live

Infibeam Avenues will hold a meeting of the Board of Directors of the Company on 4 February 2025.Powered by Capital Market - Live

Infibeam Avenues announced that its flagship payment brand - CCAvenue is now live with Bassein Catholic Co-operative Bank (BCCB). The said alliance includes the internet banking facility of BCCB in the payment network of CCAvenue, allowing its millions of on-boarded merchants to utilize this remunerative payment option for substantial business growth. The sign-up with BCCB reaffirms the payment aggregator's firm commitment to deliver solutions that render payments secure and seamless. BCCB's voluminous customer base is now enabled to process easy payments with the Net Banking mode through a direct debit in their account, while they shop on hundreds of CCAvenue powered websites. With the largest Direct Debit engine, CCAvenue currently processes the Net Banking facility of approximately 60 leading banks across the country.Powered by Capital Market - Live

Net profit of Infibeam Avenues rose 6.94% to Rs 44.07 crore in the quarter ended September 2024 as against Rs 41.21 crore during the previous quarter ended September 2023. Sales rose 29.19% to Rs 1016.65 crore in the quarter ended September 2024 as against Rs 786.97 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales1016.65786.97 29 OPM %7.658.90 - PBDT79.5571.96 11 PBT62.4455.39 13 NP44.0741.21 7 Powered by Capital Market - Live

Infibeam Avenues will hold a meeting of the Board of Directors of the Company on 12 November 2024.Powered by Capital Market - Live

Infibeam Avenues has allotted 71,40,716 equity shares under ESOS on 15 October 2024. Consequently, the equity shares of the Company stand increased to 2,78,91,42,846 equity shares.Powered by Capital Market - Live

Infibeam Avenues announced that the company is in receipt of Contract(s) with a leading chain of Hospitals and Gas-Station chain for its first AI product- 'AI Facility Manager'. Phronetic.AI, the Artificial Intelligence arm of Infibeam Avenues has secured two major contracts that will bring its cutting-edge Theia Vision AI technology to leading regional hospitals and an international gas station chain. Theia Vision AI contracts represent a significant milestone in Phronetic.AI's growth strategy. The company continues to expand its portfolio of AI solutions, with Vision AI playing a critical role in sectors where precision, safety, and efficiency are paramount. The total value is expected to be USD 1 million per annum. The total tenure for each contract with five hospitals in India and the UAE-based gas station chain is five years with optionality to extend further. The company's contracts with the five leading hospitals for its Phronetic.AI's Theia Vision AI technology product 'AI Facility Manager', will be integrated across multiple facilities within the hospital. This aims to revolutionize patient care, streamline operations, and enhance safety protocols through advanced visual data analysis. The proprietary Theia Vision AI technology will enable hospitals to improve diagnostics, monitor patient conditions in real-time, and optimize resource allocation, setting a new standard for healthcare innovation. Simultaneously, Phronetic.AI has also secured a global contract with a UAE-headquartered gas station chain, a leading name in the energy sector. The deployment of Vision AI product - 'AI Facility Manager' across the chain's gas stations will focus on enhancing security, improving customer service, and optimizing operational workflows. With capabilities such as real-time threat detection, automated transaction monitoring, and customer behaviour analysis, Vision AI is set to transform the way this global energy player operates its retail outlets. The 'AI Facility Manager' also has added a feature for 'Women Safety', where with a hand gesture towards CCTVs, a woman can send a SOS signal, which gets immediately captured by Phronetic.AI's proprietary Theia Vision AI technology, ensuring greater safety for women in public and workplace environments, while also driving operational efficiencies for corporates and organisations. The 'AI Facility Manager' is an AI product built over Phronetic.AI's proprietary Theia Vision AI technology. One of the key aspects of this technology is that it fits into any existing CCTV infrastructure and can be deployed within just five minutes. Thus, onboarding of clients is extremely simple and requires no changes to the client's existing CCTV infrastructure. Powered by Capital Market - Live