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Affle hits the roof after robust Q1 outcome

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Affle India hit an upper circuit of 10% at Rs 2025.95 after the company's consolidated net profit jumped 42.3% to Rs 18.77 crore on 20% increase in net sales to Rs 89.77 crore in Q1 June 2020 over Q1 June 2019.

Profit before tax came at Rs 20.11 crore in Q1 June 2020, rising 23% from Rs 16.35 crore in the same period last year. EBITDA grew by 20.3% year on year to Rs 22.5 crore in quarter ending June 2020. The company EBITDA margin remained unchanged at 25% in Q1 June 2020.

The firm said that the growth has been broad-based coming from both cost per converted user (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 FY21.

Commenting on the results, Anuj Khanna Sohum, the Chairman, MD and CEO of Affle said: Our Affle2.0 strategic initiatives have strengthened the foundations for our long term sustainable growth. 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. I am pleased to announce that Affle continued its growth trajectory to reach Revenue from Operations of Rs. 898 million in Q1 FY2021, a growth of 20.4% yo-y. Our PAT stood at Rs. 188 million in Q1 FY2021, to register a growth of 42.3% y-o-y. This growth has been broad-based coming from both CPCU business and Non-CPCU business. While CPCU business marked a marginal growth, Non-CPCU business performed well driven by customer's demand for PaaS / SaaS based model and short-term inclination of advertisers towards brand advertising during the pandemic times.

He further added, Though the economic momentum was impacted with two months of lockdown in April and May, June has seen a strong demand from both India and International markets and across the industry verticals. I am also extremely proud to say that the company has not only proved itself to deliver a sustainable and profitable growth even in the most challenging times, but rather it has been a responsible growth for all our stakeholders particularly our employees with no cuts in salaries, jobs and the pre-agreed bonuses. The lockdowns also 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 is a global technology company with a proprietary consumer intelligence platform that delivers consumer engagements, acquisitions and transactions through relevant mobile advertising.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, August 10 2020. 11:47 IST