Affle reports Revenue growth of 20.4% (y-o-y) | PAT growth of 42.3% (y-o-y) – medianews4u
Mumbai: Affle reported a strong performance for Q1 FY2021 with a consolidated revenue from operations of Rs. 89.8 crores, an increase in revenue by 20.4% y-o-y. EBITDA was at Rs. 22.5 crores, an increase of 20.3% y-o-y. PAT increased by 42.3% y-o-y to Rs. 18.8 crores, and PAT margin stood at 20.4% for the quarter, an expansion of 2.7% from Q1 last year. This growth has been broad-based coming from both CPCU business and Non-CPCU business. The CPCU business continued its positive momentum delivering a total of 1.7 crore of converted users in Q1 FY2021.
The top-10 industry verticals for the Company have been Covid-19 resilient, helping it register a robust growth in this quarter on both year-on-year basis and sequential basis (q-o-q).
Commenting on the results, Anuj Khanna Sohum, the Chairman, MD and CEO of Affle said: “08.08.20 is our 1st IPO anniversary since Affle competed its successful IPO in India. We achieved momentous progress in FY2020 and we would like to thank our shareholders for their continued trust in us. Our Affle2.0 strategic initiatives have strengthened the foundations for our long term sustainable growth.
The resilient nature of our business enabled our continued growth trajectory in Q1 FY2021 with stronger demand in June from both India and International markets across industry verticals. The lockdowns have helped to accelerate the consumer adoption of mobile apps and online services in India and we are well-positioned to benefit from this trend.
Affle remains committed to deliver new innovations and leverage capabilities to drive sustainable growth, while looking to invest in credible consolidation opportunities that shall enhance value for our stakeholders.”