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

It's revenue from operations grew 20.37 per cent at Rs 89.77 crore during the period under review, while EBITDA stood at Rs 22.5 crores, up 20% YoY

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.