Buzzing stock: Affle India rises 6 per cent on strong Q3FY21 revenue growth
Affle (India) Limited reported strong growth in its performance for Q3FY21 as the global economy continues to recover from the shocks of the COVID-19 pandemic. The company reported better-than-expected performance for Q3FY21; as a result, its shares jumped by around 5.67 per cent on Monday.
On a consolidated basis, revenue from operations rose by 59.30 per cent YoY to Rs 150.50 crore for Q3FY21, while EBITDA expanded by 40.50 per cent YoY to Rs 38.40 crore. Affle India reported a net profit of Rs 30.60 crore for Q3FY21, increasing by 42.9 per cent on a YoY basis.
Looking at 9MFY21 financial highlights, the consolidated revenue from operations rose by 47.90 per cent YoY to Rs 375.20 crore. Profit after tax increased by 51.90 per cent YoY to Rs 76.30 crore in Q3FY21.
Affle is a global technology company with a proprietary consumer intelligence platform that delivers consumer engagements, acquisitions and transactions through relevant mobile advertising. While the company’s consumer platform is used by online & offline companies for measurable mobile advertising, its enterprise platform helps offline companies to go online via platform-based app development, enablement of O2O commerce, and through its customer data platform.
On Monday, the stock of the company was seen trading at Rs 4,288.00, up by 2.75 per cent against its previous close of Rs 4,173.20 at 2.43 pm on BSE.