Affle reports strong performance for Q1 FY2024

Affle reports strong performance for Q1 FY2024

It achieved revenue growth of 17.0 per cent y-o-y profit (PAT) growth of 21.4 per cent y-o-y.


Mumbai: Affle (India) Ltd, a consumer intelligence-driven global technology company, has announced results for the first quarter ended 30 June 2023. 

Consolidated Performance Highlights

Q1 FY2024 Highlights (y-o-y): 

▪ Revenue from operations of Rs. 406.6 crore, an increase of 17.0 per cent y-o-y  

▪ EBITDA at Rs. 78.1 crore, an increase of 13.7 per cent y-o-y  

▪ PAT at Rs. 66.2 crore, an increase of 21.4 per cent y-o-y

Q1 FY2024 Highlights (q-o-q): 

▪ Revenue up by 14.3 per cent q-o-q  

▪ EBITDA up by 9.0 per cent q-o-q

▪ PAT up by 6.0 per cent q-o-q

 Affle reported a strong performance for Q1 FY2024 with a consolidated revenue from operations of Rs.  406.6 crore, an increase of 17.0 per cent y-o-y from revenue of Rs. 347.5 crore in Q1 last year. EBITDA stood at Rs. 78.1 crore, an increase of 13.7 per cent y-o-y. PAT up by 21.4 per cent y-o-y to Rs. 66.2 crore from Rs. 54.5 crore in Q1 last year. PAT margin expanded by 0.5 per cent and stood at 15.9 per cent in Q1 FY2024 as compared to 15.4 per cent in Q1 last year. This growth was broad-based coming from both CPCU business and non-CPCU  business, across India & International markets. 

The CPCU business noted strong momentum delivering 6.9 crore converted users in Q1 FY2024, and the CPCU revenue stood at Rs. 377.8 crore, an increase of 17.1 y-o-y. The top industry verticals for the company continued to be resilient, helping it register a robust growth anchored on CPCU business model and disciplined focus on higher profitability with margin expansion on a y-o-y basis. 

Commenting on the results, Affle MD and CEO Anuj Khanna Sohum said:  

“We commenced FY2024 on a positive trajectory and are elated to close yet another quarter of robust growth having achieved our highest quarterly revenue run-rate ever in Q1 FY2024. This quarter too  witnessed the accelerated broad-based growth in ad spends powered by our unique ROI-linked CPCU  business model, coming across our top industry verticals. 

This performance was a result of strategic efforts to enhance our consumer-centric platform offerings, further verticalise our capabilities towards high-growth industries, leverage acquisitive synergies and the disciplined execution from our teams. 

We further fortified our solutions with unique ad placements across OEM and Operator app stores in  India & International markets. We also globally rolled out CPCU model on Connected TV (CTV) with household sync capabilities, empowering advertisers to reach users across screens and derive greater  ROI with cross-device targeting. 

We are agile and continue to reinvent ourselves to leverage the evolving market dynamics & technological trends to drive sustainable value creation for all our stakeholders.”