As Affle India’s Q2 net profit rises by 50%, its share price hits all-time high

Affle's share prices hit an all-time highAffle
  • Affle India reported a consolidated revenue of Rs 1,593 million in H1 FY2020, a 38% increase yoy.
  • For Q2 FY2020,Affle’s consolidated revenue stood at Rs 847 million, a jump of 40.4% yoy.
  • Its share price soared 10% intraday to hit its all-time high of Rs 1,537.65.

Affle India, a consumer intelligence driven global technology company has reported a robust performance for H1 FY2020 with a consolidated revenue of Rs 1,593 million, a 38% increase in revenue yoy. As a result, its share price soared 10% intraday to hit its all-time high of Rs 1,537.65.

For Q2 FY2020,Affle’s consolidated revenue stood at Rs 847 million, a jump of 40.4% yoy. The company said that its CPCU business continued on a strong growth momentum, delivering a total of 35.1 million converted users (up 39.4% yoy, India and International combined) as compared to 25.2 million converted users delivered in the H1 last year. Affle continued to strengthen its mDMP Platform to expand the reach across connected devices to drive conversions and profiled over 2.1 billion connected devices in the last twelve months.

Commenting on the results, Anuj Khanna Sohum, the Chairman, MD and CEO of Affle said, “Affle’s growth strategy is anchored in India, our dominant & largest market, and International emerging markets like SEA and MEA where we have strong on ground presence. The growth in Affle’s Consumer Platform business was well supported by the overall consumer trends of greater time spent across connected devices, increased adoption of online payments and consistent growth in digital marketing spends across key industry verticals including e-commerce, food, travel, transport, entertainment/OTT/gaming, healthcare, BFSI/fintech, telecom and others.”

“Our mDMP platform has over 2.1 billion connected devices profiled globally, and we will continue to invest in the 4V strategy of Voice, Video, Vernacular and Verticalisation to reach the next billion shoppers on connected devices. We have filed 14 patents recently across jurisdictions and launched a new R&D centre in Bangalore to fortify our competitive advantage in big data, machine learning & advanced deep learning models,” he added.

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