Categories Earnings, Technology

AFFLE (INDIA) LTD. (NSE: AFFLE): Q3 FY23 Results Out; Total Income Rises 11% YoY

Affle (India) Ltd (NSE:AFFLE) is an internet software and services firm that recently announced its Q3FY23 results. The results showed strong growth in both revenue and profits. In Q3FY23, revenue from operations was Rs 376.1 crore, an increase of 6.1% on a quarter-on-quarter basis and 10.8% on a year-on-year basis. The company’s EBITDA was at Rs 80.4 crore, growing 11.1% quarter-on-quarter and 18.7% year-on-year. The profit after tax (PAT) was Rs 69.0 crore, which represents a 17.6% increase on a quarter-on-quarter basis and a 14.8% increase on a year-on-year basis.

For the 9MFY23 period, Affle’s revenue from operations was Rs 1,078.1 crore, representing a growth of 40.6% year-on-year. The company’s EBITDA was at Rs 221.3 crore, a growth of 42.9% year-on-year, while the profit after tax was Rs 182.9 crore, representing a growth of 40.0% year-on-year.

Anuj Khanna Sohum, the CEO of Affle, commented on the results by saying that the company is elated to deliver yet another quarter of robust growth. He attributed the success to the company’s unique CPCU business model, which has constantly augmented its tech and product capabilities. Sohum also mentioned that the company’s focus on higher profitability and productivity has driven significant bottom-line margin expansion. He also stated that despite the challenging global headwinds, Affle continues to drive consumer conversions and ROI for its customers through its Affle 2.0 strategy and innovation-led offerings.

Affle’s Q3FY23 results show strong growth in both revenue and profits. The CEO is confident in the company’s long-term business prospects and is well-positioned to drive sustainable organic growth and evaluate inorganic opportunities for higher bottom-line growth in FY23 and beyond.

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