AvenuesAI (539807) Q3 24/25 earnings summary

Executive summary

• Achieved strong Q3 FY25 results with 18% YoY gross revenue growth, 28% YoY net revenue growth, 15% YoY EBITDA growth, and up to 49% YoY PAT growth, driven by digital payments, AI, and new market expansion.

• Onboarded 180,978 new merchants in Q3, expanding the digital payments ecosystem and international presence, notably in the Middle East.

• Strategic acquisition of Rediff provides access to 65 million monthly users, enabling cross-selling of financial products and lowering customer acquisition costs.

• Launched new AI subsidiary (Phronetic.AI/NeuroMinds) and invested in localized data centers to support AI, fintech, and cloud services.

• Expanded product offerings with launches like CCAvenue SoundBox and RediffPay, and secured major merchant wins in India and GCC.

Financial highlights

• Q3 FY25 gross revenue rose 18% YoY to INR 10,704 million; net revenue up 28% YoY to INR 1,399 million.

• EBITDA increased up to 40% YoY to INR 1,014 million, with a 56% EBITDA margin on net revenue.

• PAT reached up to INR 644 million, up as much as 49% YoY.

• Transaction Processing Value (TPV) reached INR 2,240 billion, up 24% YoY.

• Net take rate improved 32% YoY to 11.1 bps.

Outlook and guidance

• FY25 gross revenue guidance: INR 39,000–42,000 million (up 23–32% YoY); net revenue expected at INR 4,500–5,000 million (up 5–17% YoY).

• EBITDA projected at INR 2,750–3,000 million (up 9–19% YoY); PAT at INR 1,750–2,000 million (up 18–35% YoY).

• AI business expected to contribute 5–10% of net revenue in 2–3 years; Rediff anticipated to contribute 2–4% of revenue, with potential to reach 10% in coming years.

• International revenue targeted to reach 20–25% of total in the next two years.

• Continued focus on sustainable, profitable growth and long-term value creation.