Affle India – India Mobile Internet Advertising Leader

Affle (India) Limited has reported robust financial results for the second quarter (Q2) and half-year (H1). Here are the detailed highlights:

Q2 FY2024 Performance:

• Revenue Growth: Affle achieved a consolidated revenue from operations of INR 431.3 crore, marking a significant 21.6% year-on-year (y-o-y) increase compared to INR 354.6 crore in Q2 of the previous year. This indicates strong revenue growth.
• EBITDA Growth: The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for Q2 was INR 87.2 crore, showing a 20.6% y-o-y increase. The EBITDA margin was 20.2% in Q2 FY2024.
• Profit Increase: The Profit After Tax (PAT) increased by 13.8% y-o-y to INR 66.8 crore, up from INR 58.7 crore in Q2 of the previous year. This growth was driven by both CPCU business and non-CPCU business activities, spanning across India and international markets.

H1 FY2024 Highlights:

• Revenue Growth: For the first half of FY2024, consolidated revenue from operations amounted to INR 837.9 crore, indicating a 19.3% y-o-y increase. This demonstrates continued revenue growth.
• EBITDA Growth: EBITDA for H1 was INR 165.3 crore, marking a 17.3% y-o-y increase, with an EBITDA margin of 19.7%.
• Profit Increase: PAT for H1 increased by 17.4% y-o-y to INR 133.0 crore.

CPCU Business Momentum:

• The CPCU business showed strong momentum in Q2 FY2024, delivering 7.2 crore converted users, representing an 11.4% y-o-y increase. In H1 FY2024, the total converted users delivered reached 14.1 crore.
• The CPCU Revenue for Q2 FY2024 was INR 400.6 crore, an increase of 21.6% y-o-y. The company’s top industry verticals remained resilient, contributing to robust growth driven by the CPCU business model.

CEO’s Comments: Anuj Khanna Sohum, the MD and CEO of Affle, highlighted the company’s broad-based growth from both existing and new customers, both in India and global emerging markets, despite challenging global macro-economic conditions. He emphasized the company’s commitment to technological innovation, strengthening partnerships, and enhancing customer solutions to drive sustainable growth.

In summary, Affle (India) Limited has delivered strong financial performance in Q2 and H1 FY2024, with significant revenue and profit growth, driven by its CPCU business and a resilient business model. The company’s focus on innovation and expansion positions it for continued growth.