Latest News | Affle Q4 Profit Jumps to Rs 59 Cr

New Delhi, May 29 (PTI) Mobile advertising firm Affle (India) Ltd on Saturday posted nearly three-fold jump in consolidated profit at Rs 58.7 crore for the quarter ended March 31, 2021.

The company had posted a net profit of Rs 20 crore in the same quarter a year ago.

Affle delivered broad-based growth from both existing and new customers across the top 10 resilient industry verticals, it said in a statement.

This was contributed by consistent growth in advertiser spends across India and other emerging markets, it added.

"Financial year 2021 was a landmark year for Affle. We successfully laid Affle 2.0 strategic foundation for the decade ahead anchored on our 2V - Vernacular and Verticalization strategy and our ecosystem level mobile OEM and Operator partnerships.

"We further fortified our tech platforms, products and IP portfolio and strengthened our leadership position," Affle Chairman, MD and CEO Anuj Khanna Sohum said.

Revenue of Affle during the quarter jumped to Rs 177.58 crore from Rs 83.43 crore in the year-ago period of 2019-20.

For fiscal year 2020-21, Affle posted a profit of Rs 129.36 crore compared to Rs 70.9 crore in the previous year.

"We remain in deep gratitude to our team and all other stakeholders whose endless support even in COVID times led to our all-round consistent performance. Our outlook for financial year (FY) 2022 is optimistic and we are strongly positioned to leverage the new market dynamics and invest in credible consolidation opportunities," Sohum said.

Revenue of Affle increased to Rs 558.31 crore in 2020-21 compared to Rs 339.87 crore in the previous year.

(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)