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Affle India surges 21% in 2 days, hits new high post Dec quarter results

The management believes the company is in multi-year technology transformation period of accelerated consumer adoption of mobile and connected devices globally

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Affle India | Buzzing stocks | Markets

SI Reporter  |  Mumbai 

global, economy, market, stocks, investments, investors, m-cap, growth, gdp

Shares of hit a new high of Rs 4,582, up 10 per cent, on the BSE in Monday's intra-day trade after the company reported a strong performance for the quarter ended December 2020 (Q3FY21) with consolidated revenue from operations grew 59 per cent year-on-year (YoY) at Rs 150.50 crore. In the past two days, the stock has surged 21 per cent.

The company’s profit after tax (PAT) increased by 42.9 per cent YoY to Rs 30.60 crore. Ebitda (earnings before interest, taxes, depreciation, and amortisation) grew 40.5 per cent YoY to Rs 38.40 crore, however, margin contracted 360 basis points (bps) to 25.3 per cent, mainly led by higher employee expenses.

The growth during the quarter was broad-based coming from both cost per converted user (CPCU) business and non-CPCU business. Q3 continued to be the highest quarter in the year on account of business seasonality, the company said.

The management believes the company is in a multi-year technology transformation period of accelerated consumer adoption of mobile and connected devices globally. The consumer trends offer a tremendous opportunity for further scale, ensuring the digital ad spends will continue to increase towards ROI and data focused mobile marketing platforms, it said.

Affle is a global technology company with a proprietary consumer intelligence platform that delivers consumer engagements, acquisitions and transactions through relevant mobile advertising.

At 11:19 am, the stock was trading 6 per cent higher at Rs 4,432 on the BSE as compared to a 1.3 per cent gain in the S&P BSE Sensex. A combined around 280,000 equity shares have changed hands on the counter on the NSE and BSE.

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First Published: Mon, February 08 2021. 11:23 IST
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