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Affle India Stock Update:
After the company reported a record quarterly revenue run-rate, EBITDA, and net profit in the fourth quarter, Affle India shares increased 6% to Rs 1,304 in the afternoon on May 27.
Consolidated net profit for the March quarter (Q4FY24) increased by 40% year over year to Rs 87.5 crore from Rs 62 crore during the same period the previous year, according to the business. The net profit increased sequentially from Rs 76.8 crore in the December quarter to 14%.
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Affle India Stock Update
In Q4FY24, the company’s operating revenue of Rs 506 crore, up from Rs 356 crore the previous year, represented a 42 percent increase.
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The company’s net profit for FY24 increased to Rs 297 crore, or 21.5 percent, from Rs 244.58 crore at the end of FY23. “With over 5X growth in topline and profitability in the last five years powered by our unique ROI-linked CPCU business model, and our continued investments in tech, markets and team expansion, we are poised to continue our trajectory of robust growth with enhanced profitability,” said management.
At approximately 1:45 pm, the company’s shares were trading on the NSE at Rs 1,277 a share, up 4% from the previous close. Since the year began, shares of Affle India have decreased by 2%.
Through information technology and software development services, Affle offers mobile advertisement services for both Indian and international mobile phones.