Eraaya Lifespaces Ltd shares the business outlook report of its Indian Subsidiary 'EbixCash'

Eraaya Lifespaces Limited has shared the business outlook report of its Indian Subsidiary EbixCash.

"In the foreign exchange sector, the previous quarter has been remarkable. We are proud to report that we achieved a gross revenue of approximately INR 198 Cr (About USD 23.57 Million) for Q2 of the fiscal year 2024-25. Our Foreign Exchange Division surpassed a GMV of INR 7,762 Cr (USD 935 Million Approx) and generated a gross revenue of about INR 180 Cr (USD 21.42 Million Approx), supported by strong EBITDA figures," said Mr. T.C. Guruprasad, CEO and Managing Director of EbixCash Payment Solutions.

The FOREX vertical continues to experience growth, particularly in student remittances and corporate sectors, with new partnerships from notable corporations and educational agents. Meanwhile, the Banknotes Vertical has solidified its presence by partnering with new banks for currency transactions and integrating five-star hotels into the EbixCash network.

EbixCash Globetrotter Travel is broadening its customer base and remains a top choice for students and leisure travellers. Additionally, EbixCash World Money has introduced a new product, the One World Globetrotter Travel Card, which allows customers to make purchases at merchants worldwide without incurring cross-currency fees. This innovation positions EbixCash World Money advantageously against competitors in the international travel market.

Furthermore, EbixCash World Money is enhancing its distribution network by adding two new international airports-Aurangabad and Surat-and plans to expand branch operations in cities like Varanasi, Aurangabad, Kolhapur, and Udaipur, targeting deeper penetration into retail, corporate, and student markets. EbixCash Payment Solutions' inward remittance segment maintains its leadership in the cash-to-cash market, serving as a major partner for Western Union, MoneyGram, RIA, Mastercard Transaction Services (Transfast), and Instant Cash.

The domestic payments sector continues to expand with the introduction of a new UPI handle for Android users, facilitating seamless payments and financial inclusion for credit societies. This UPI service is currently utilized by several members of Pune's credit societies for everyday transactions. Moreover, EbixCash Payment Service continues to dominate the B2B market for ticket issuance through IRCTC. Soon, the UPI service will also be available at airport counters for foreign nationals, promoÆŸng a hassle-free, cashless payment experience.

Shares of Justride Enterprises Ltd was last trading in BSE at Rs. 1937.60 as compared to the previous close of Rs. 1894.25. The total number of shares traded during the day was 9981 in over 512 trades.

The stock hit an intraday high of Rs. 1988.95 and intraday low of 1875.00. The net turnover during the day was Rs. 19152942.00.

Source : Equity Bulls

Keywords

EraayaLifespaces INE432F01024 BusinessOutlookReport EbixCash