Infibeam Avenues Ltd fell 4.99% today to trade at Rs 59.05. The S&P BSE IT Sector index is down 0.52% to quote at 14817.75. The index is up 5.33 % over last one month. Among the other constituents of the index, TVS Electronics Ltd decreased 2.14% and Majesco Ltd lost 2% on the day. The S&P BSE IT Sector index went down 5.35 % over last one year compared to the 11.29% fall in benchmark SENSEX.

Infibeam Avenues Ltd has added 16.7% over last one month compared to 5.33% gain in S&P BSE IT Sector index and 8.58% rise in the SENSEX. On the BSE, 5922 shares were traded in the counter so far compared with average daily volumes of 73305 shares in the past one month. The stock hit a record high of Rs 68.5 on 25 Jun 2020. The stock hit a 52-week low of Rs 26.55 on 24 Mar 2020.

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Net profit of Infibeam Avenues declined 61.30% to Rs 29.24 crore in the quarter ended March 2020 as against Rs 75.56 crore during the previous quarter ended March 2019. Sales declined 54.36% to Rs 135.91 crore in the quarter ended March 2020 as against Rs 297.78 crore during the previous quarter ended March 2019.

For the full year,net profit declined 14.94% to Rs 107.98 crore in the year ended March 2020 as against Rs 126.95 crore during the previous year ended March 2019. Sales declined 43.92% to Rs 648.09 crore in the year ended March 2020 as against Rs 1155.58 crore during the previous year ended March 2019.

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Net profit of Infibeam Avenues declined 76.03% to Rs 7.36 crore in the quarter ended March 2020 as against Rs 30.70 crore during the previous quarter ended March 2019. Sales declined 26.19% to Rs 123.17 crore in the quarter ended March 2020 as against Rs 166.88 crore during the previous quarter ended March 2019.

For the full year,net profit declined 0.85% to Rs 38.59 crore in the year ended March 2020 as against Rs 38.92 crore during the previous year ended March 2019. Sales rose 8.14% to Rs 586.36 crore in the year ended March 2020 as against Rs 542.21 crore during the previous year ended March 2019.

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lnfibeam Avenues has signed a binding agreement for acquisition of 100% Shareholding of AI Fintech, Inc, a Company formed and registered in USA Accordingly, AI Fintech, Inc will become a Wholly Owned Subsidiary ofthe Company.

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