Affle Q2 FY2023 revenue up 29.1%; net profit sees growth of 39.6%

Affle (India) Limited, a consumer intelligence driven global technology company, has announced the results for the second quarter and half year ended September 30, 2022.

Consolidated Performance Highlights

Q2 FY2023 Highlights (y-o-y):

Revenue from Operations of Rs 354.6 crore, an increase of 29.1% y-o-y

EBITDA at Rs 72.3 crore, an increase of 38.8% y-o-y

Profit After Tax at Rs 58.7 crore, an increase of 39.6% y-o-y

H1 FY2023 Highlights (y-o-y):

Revenue from Operations of Rs 702.1 crore, an increase of 64.4% y-o-y

EBITDA at Rs 141.0 crore, an increase of 61.8% y-o-y

Profit After Tax at Rs 113.9 crore, an increase of 61.4% y-o-y

Affle reported robust performance for Q2 FY2023 with a consolidated revenue from operations of Rs 354.6 crore, an increase of 29.1% y-o-y from revenue of Rs 274.7 crore in Q2 last year. EBITDA stood at Rs 72.3 crore, an increase of 38.8% y-o-y. Profit After Tax (PAT), excluding any non-operating exceptional items, increased by 39.6% y-o-y to Rs 58.7 crore from Rs 42.0 crore in Q2 last year. PAT margin stood at 16.0% in Q2 FY2023 as compared to 14.9% in Q2 last year.

For H1 FY2023, consolidated revenue from operations was at Rs 702.1 crore, an increase of 64.4% y-o-y. EBITDA was at Rs 141.0 crore, an increase of 61.8% y-o-y. PAT excluding any non-operating exceptional items increased by 61.4% y-o-y to Rs 113.9 crore.

The CPCU business noted strong momentum delivering 6.5 crore converted users in Q2 FY2023, an increase of 32.7% y-o-y and taking the total converted users delivered in H1 FY2023 to 12.7 crore. Despite the global headwinds, the top industry verticals for the company continued to be resilient, helping it register a robust growth in this quarter.

Commenting on the results, Anuj Khanna Sohum, MD and CEO, Affle, said, “We are elated to close yet another quarter of robust growth having achieved our highest quarterly revenue run-rate, highest conversions and highest EBITDA in Q2 FY2023. Despite the ongoing global headwinds that have impacted businesses globally, the resilient nature of our Affle2.0 strategy enabled well-balanced growth momentum across Q1 and Q2 this year. Our significant bottom-line margin expansion on both q-o-q and y-o-y basis in Q2 FY2023, is a testament to our unique ROI-linked CPCU business model, the broad-based balanced growth and strong on-ground teamwork across global emerging markets. We have realigned our execution strategies to focus on higher profitability and productivity with greater emphasis on cash flows across all our organic and inorganic investments. We remain confident of the long-term growth prospects supported by the massive digital shift and we will continue to invest in our organic growth as well as evaluate value driven inorganic investment opportunities with well calibrated focus on higher bottom-line growth for FY2023 and beyond.”