Latest News | Affle Q3 Net Profit Up 11 Pc to Rs 76.8cr, Revenue Increases by 33 Pc

New Delhi, Feb 3 (PTI) Tech company Affle on Saturday reported an 11.36 per cent increase in its consolidated net profit to Rs 76.81 crore for the October-December quarter of 2023-24 compared to Rs 68.97 crore in the year-ago period.

The company's revenue from operations rose to Rs 498.70 crore in the third quarter (Q3) of FY24 from Rs 376.06 crore in Q3 of FY23, translating into a 32.61 per cent hike, a statement said.

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The company said that its Earning Before Interest Tax Depreciation and Amortisation (EBITDA) stood at Rs 96.7 crore in the quarter, up by 20.3 per cent year-on-year.

Anuj Khanna Sohum, MD and CEO, Affle, said, "In Q3 FY2024, we have further raised our performance bar having achieved our highest quarterly revenue run-rate, highest EBITDA, PAT and consumer conversions till date.

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"We continue to witness a robust market opportunity as advertisers steadily accelerate their digital spending, resulting in a broad-based growth in our CPCU business, coming across our top industry verticals globally".

This quarter underscored the success of realigned strategies & teams, consistent efforts to enhance platform & product capabilities, relentless focus on R&D and deeper ecosystem-level partnerships, Khanna said.

"We filed 15 new patents in India during the quarter. We continue to expand the breadth of our tech IP assets and are investing in Gen AI powered innovations to go beyond the mere adoption of AI for cost efficiencies, but rather fortify our competitive moat and drive long-term revenue growth," Khanna added.

Affle is a global technology company with a proprietary consumer intelligence platform that delivers consumer recommendations and conversions through relevant Mobile Advertising.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)