AvenuesAI revenue rose 47% as September-quarter profit fell

AvenuesAI Limited reported revenue from operations of Rs 2,879.24 crore for the quarter ended September 30, 2026, up 47% year on year, but profit before tax fell to Rs 82.19 crore from Rs 95.36 crore as expenses increased. The Payment Business supplied Rs 2,822.44 crore of quarterly revenue.

How much did AvenuesAI’s revenue grow in the September 2026 quarter?

AvenuesAI’s revenue from operations grew 46.5% year on year and 7.4% sequentially to Rs 2,879.24 crore in the quarter ended September 30, 2026. Revenue was Rs 1,964.91 crore in the quarter ended September 30, 2025 and Rs 2,680.40 crore in the preceding quarter ended June 30, 2026.

The Payment Business accounted for Rs 2,822.44 crore of September-quarter revenue, compared with Rs 1,900.16 crore a year earlier and Rs 2,625.94 crore in June 2026. E-Commerce Platform Business revenue was Rs 56.80 crore, rising from Rs 54.46 crore sequentially but falling from Rs 64.75 crore in the September 2025 quarter.

AvenuesAI defines its Payment Business as payment gateway operations under the CCAvenue brand, payment infrastructure including Centralised Payment Gateway System services for banks, and credit and lending-related operations. Its E-Commerce Platform Business covers enterprise e-commerce software and infrastructure, advertising services and infrastructure rental solutions, with the September 2026 revenue mix weighted more heavily towards payments.

Why did AvenuesAI’s profit before tax decline despite revenue growth?

AvenuesAI’s profit before tax declined to Rs 82.19 crore in the September 2026 quarter from Rs 95.36 crore a year earlier and Rs 84.77 crore in the June 2026 quarter. Consolidated profit after tax was Rs 71.70 crore, compared with Rs 67.65 crore in the September 2025 quarter, while profit attributable to owners was Rs 63.76 crore versus Rs 66.52 crore.

Total expenses reached Rs 2,825.31 crore, up from Rs 1,890.61 crore in the year-earlier quarter and Rs 2,624.07 crore in June 2026. Operating expenses were Rs 2,727.92 crore, employee-benefit expenses were Rs 32.05 crore, finance cost was Rs 10.90 crore, and depreciation and amortisation expense was Rs 34.05 crore.

Payment Business segment profit before tax and interest was Rs 38.72 crore, below Rs 43.00 crore in the September 2025 quarter and Rs 43.41 crore in June 2026. E-Commerce Platform Business segment profit was Rs 27.05 crore, above Rs 24.45 crore sequentially but below Rs 42.50 crore a year earlier, taking total segment result to Rs 65.77 crore from Rs 85.50 crore a year earlier.

What do AvenuesAI’s first-half results show?

AvenuesAI reported revenue from operations of Rs 5,559.64 crore for the six months ended September 30, 2026, up 71.3% from Rs 3,245.12 crore in the corresponding six months of 2025. Payment Business revenue was Rs 5,448.38 crore, while E-Commerce Platform Business revenue was Rs 111.26 crore.

Profit before tax for the first half was Rs 166.96 crore, compared with Rs 172.54 crore in the prior-year period. Profit after tax increased to Rs 156.47 crore from Rs 126.07 crore, while total expenses increased to Rs 5,449.38 crore from Rs 3,119.93 crore alongside revenue growth.

Basic earnings per share for the six months were Rs 4.51, compared with Rs 4.31 in the corresponding 2025 period, while diluted earnings per share were Rs 4.45 against Rs 4.24. These figures were retrospectively adjusted after shareholders approved the consolidation of 10 equity shares into one equity share, with October 13, 2026 set as the record date.

What changed in AvenuesAI’s balance sheet and cash flow?

AvenuesAI’s total assets were Rs 7,364.38 crore at September 30, 2026, compared with Rs 7,301.93 crore at March 31, 2026. Total equity increased to Rs 5,144.90 crore from Rs 4,977.22 crore, while total liabilities fell to Rs 2,219.48 crore from Rs 2,324.71 crore over the same period.

Cash and cash equivalents were Rs 546.52 crore at September 30, 2026, down from Rs 913.23 crore at March 31, 2026. In the six months ended September 30, 2026, net cash used in operating activities was Rs 192.32 crore, compared with net cash generated from operating activities of Rs 323.71 crore in the prior-year period.

Net cash used in investing activities was Rs 193.71 crore, including Rs 132.54 crore spent on property, plant, equipment and intangible assets and Rs 166.47 crore of net loans and advances given. Financing activities generated Rs 19.32 crore, supported by Rs 43.83 crore of net borrowing proceeds, while current borrowings increased to Rs 176.54 crore from Rs 132.89 crore at March 31, 2026.

How is AvenuesAI deploying its rights issue proceeds?

AvenuesAI reported net rights issue proceeds of Rs 696.52 crore after Rs 3.47 crore became unrecoverable following forfeiture of partly paid-up shares. As of September 30, 2026, it had used Rs 399.32 crore and retained Rs 297.20 crore unutilised, temporarily invested in deposits and current accounts with scheduled banks.

At its September 29, 2026 annual general meeting, shareholders approved a variation in the implementation of proceeds assigned to advanced technology development and artificial intelligence software-related activities. Funds initially intended for investment in Nueromind Technologies Private Limited were reallocated for AvenuesAI’s direct use toward the same stated end use.

During the quarter, AvenuesAI approved acquiring up to a 7% equity stake in Online PSB Loans Limited for up to Rs 65 crore. It also invested up to Rs 34.50 crore to acquire up to a 1.38% stake in Ratnaafin Capital Private Limited; the results filing does not quantify either investment’s expected revenue or profit contribution.

Conclusion

AvenuesAI’s September-quarter performance combined a 47% year-on-year increase in revenue with lower profit before tax. Payment Business revenue rose by Rs 922.28 crore from the September 2025 quarter, while total expenses increased by Rs 934.70 crore, and E-Commerce Platform Business revenue remained below its year-earlier level.

The next disclosed items to watch are deployment of the Rs 297.20 crore unutilised rights issue proceeds, including spending on advanced technology and artificial intelligence software activities. AvenuesAI also said it continues to monitor final Central and State rules and government clarifications on labour codes after recognising an incremental gratuity impact of Rs 3.35 crore for the year ended March 31, 2026.