Affle (India) gains after broker initiates buy call

24 Aug 2022 , 12:54 PM

The foreign broker reportedly cited that rising internet, smartphone and ecommerce penetration will benefit Affle India. It expects Affle to grow its revenues by 32% CAGR over FY22-25. The broker reportedly stated that the company has multiple moats like patents, platforms, first mover advantage in India. Affle is a global technology company with a proprietary consumer intelligence platform that delivers consumer recommendations and conversions through relevant mobile advertising. On a consolidated basis, Affle Indias reported a revenue from operations at Rs 347.5 crore in Q1 FY2023, an increase of 127.9% y-o-y. EBITDA was at Rs 68.7 crore, an increase of 95.9% y-o-y. Profit After Tax (PAT) increased by 93.5% y-o-y to Rs 55.2 crore. This growth was broad-based coming from both Cost Per Converted User (CPCU) business and non-CPCU business, across India & International markets. Powered by Capital Market – Live News