Affle (India) Q2 PAT rises 23% YoY to Rs 58 cr

Affle (India) reported 23.3% rise in consolidated net profit to Rs 58.68 crore on 29.1% increase in net revenue from operations to Rs 354.59 crore in Q2 FY23 over Q2 FY22.

On a consolidated basis, profit before tax during the quarter stood at Rs 67.66 crore, up by 18.6% from Rs 57.03 crore reported in the same period last year.

Profit after tax (PAT) excluding any non-operating exceptional items increased by 39.6% YoY to Rs 58.7 crore from Rs 42 crore in the corresponding quarter previous year.

In Q2 FY23, EBITDA stood at Rs 72.3 crore, an increase of 38.8% YoY and 5.3% rise QoQ.

Sequentially, net profit rose 7.6% while revenue from operations was up by 2% last quarter.

The CPCU business noted strong momentum delivering 6.5 crore converted users in Q2 FY23, an increase of 32.7% YoY and taking the total converted users delivered in H1 FY23 to 12.7 crore. Despite the global headwinds, the top industry verticals for the company continued to be resilient, helping it register a robust growth in this quarter, said the company.

Anuj Khanna Sohum, MD and CEO of Affle said: "We are elated to close yet another quarter of robust growth having achieved our highest quarterly revenue run-rate, highest conversions and highest EBITDA in Q2 FY223.

We remain confident of the long-term growth prospects supported by the massive digital shift and we will continue to invest in our organic growth as well as evaluate value driven inorganic investment opportunities with well calibrated focus on higher bottom-line growth for FY23 and beyond.

Affle (India) is a technology company with a proprietary consumer intelligence platform that delivers consumer engagements, acquisitions and transactions through relevant mobile advertising. The platform aims to enhance returns on marketing investment through contextual mobile ads and also by reducing digital ad fraud.

The scrip declined 0.71% to settle at Rs 1,154.25 on Monday, 7 November 2022.

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