Affle India freezes at 10% upper circuit on 42% YoY jump in Q1 profit

So far in the financial year 2020-21, the stock has surged 81.5 per cent on the BSE, as against around 28 per cent gain in the S&P BSE Sensex.
Affle India were locked in the 10 per cent upper circuit band, at Rs 2025.95, on the BSE on Monday after the company's June quarter profit rose 42.3 per cent on a yearly basis to Rs 18.77 crore. It's profit in the year-ago quarter was Rs 13.19 crore. PAT margin during the quarter expanded by 2.7 per cent YoY. 

It's revenue from operations grew 20.37 per cent at Rs 89.77 crore during the period under review, the consumer intelligence-driven technology company said in a regulatory filing. Meanwhile, EBITDA (earnings before interest, tax, depreciation, and amortisation) stood at Rs 22.5 crores, an increase of 20.3 per cent YoY. 

"This growth has been broad-based coming from both CPCU business and Non-CPCU business. The CPCU business continued its positive momentum delivering a total of 1.7 crore of converted users in Q1 FY2021," the company said in a statement, adding, "The top-10 industry verticals for the Company have been Covid-19 resilient, helping it register a robust growth in this quarter on both year-on-year basis and sequential basis".

"The resilient nature of our business enabled our continued growth trajectory in Q1 FY2021 with stronger demand in June from both India and International markets across industry verticals.
The lockdowns have helped to accelerate the consumer adoption of mobile apps and online services in India and we are well-positioned to benefit from this trend. Affle remains committed to deliver new innovations and leverage capabilities to drive sustainable growth, while looking to invest in credible consolidation opportunities that shall enhance value for our stakeholders," said Anuj Khanna Sohum, Chairman, MD and CEO of Affle India. 

So far in the financial year 2020-21, the stock has surged 81.5 per cent on the BSE, as against around 28 per cent gain in the S&P BSE Sensex.



Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel