Affle reports strong performance for Q1 FY2024

Affle (India) Limited, a consumer intelligence driven global technology company, today announced results for the first quarter ended June 30, 2023.

Q1 FY2024 Highlights (y-o-y):

Revenue from Operations of Rs. 406.6 crore, an increase of 17.0% y-o-y
EBITDA at Rs. 78.1 crore, an increase of 13.7% y-o-y
PAT at Rs. 66.2 crore, an increase of 21.4% y-o-y

Q1 FY2024 Highlights (q-o-q):

Revenue up by 14.3% q-o-q
EBITDA up by 9.0% q-o-q
PAT up by 6.0% q-o-q

Consolidated Performance Highlights

Affle reported a strong performance for Q1 FY2024 with a consolidated revenue from operations of Rs. 406.6 crore, an increase of 17.0% 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% y-o-y. PAT up by 21.4% y-o-y to Rs. 66.2 crore from Rs. 54.5 crore in Q1 last year. PAT margin expanded by 0.5% and stood at 15.9% in Q1 FY2024 as compared to 15.4% 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.

In Rs. Crore	Q1 FY2024	Q1 FY2023	*Y-o-Y Growth*	Q4 FY2023	*Q-o-Q Growth*
Revenue	406.6	347.5	17.0%	355.8	14.3%
EBITDA	78.1	68.7	13.7%	71.6	9.0%
Profit After Tax¹	66.2	54.5	21.4%	62.4	6.0%
% PAT Margin	15.9%	15.4%		16.7%

Commenting on the results, Anuj Khanna Sohum, the MD and CEO of Affle 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 verticalize 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.”