Affle's Q2 FY24 revenue rises 21% (YoY) to Rs 431.3 crore; PAT grows 13.8% (YoY)

Affle has reported consolidated revenue from operations of Rs 431.3 crore, an increase of 21.6% YoY in Q2 FY2024. In the corresponding quarter of the previous year, its revenue was Rs 354.6 crore.

The consumer intelligence technology company’s EBITDA stood at Rs 87.2 crore, an increase of 20.6% YoY. EBITDA margin was at 20.2% in Q2 FY2024. PAT increased by 13.8% YoY to Rs 66.8 crore from Rs. 58.7 crore in Q2 last year.

Affle added, “This growth was broad-based coming from both CPCU business and non-CPCU business, across India and International markets.”

For H1 FY2024, consolidated revenue from operations stood at Rs 837.9 crore, an increase of 19.3% YoY. EBITDA was at Rs 165.3 crore, an increase of 17.3% YoY and the EBITDA margin stood at 19.7%. PAT increased by 17.4% y-o-y to Rs 133.0 crore.

The company added, “The CPCU business noted strong momentum delivering 7.2 crore converted users in Q2 FY2024, an increase of 11.4% y-o-y and taking the total converted users delivered in H1 FY2024 to 14.1 crore. The CPCU Revenue stood at Rs. 400.6 crore in Q2 FY2024, an increase of 21.6% y-o-y. The top industry verticals for the company continued to be resilient, helping it register a robust growth anchored on the CPCU business model.”

Anuj Khanna Sohum, the MD and CEO of Affle, said, “Affle’s growth has been broad-based coming from both existing and new customers, across India & global emerging markets which continue to perform well despite the tough macro-economic conditions globally. The resilient nature of our business helped us achieve the highest quarterly revenue run rate, highest EBITDA, consumer conversions and CPCU rate in Q2 FY2024.

He continued, “Our consistent growth trajectory is well supported by greater consumer adoption of connected devices, unique ROI-linked CPCU business model, relentless focus on R&D and strong operational execution focused on 4Ps – People, Platforms, Productivity and Profitability. 

We continue to augment our business by strengthening our technological edge and investing in developing innovative solutions for our customers globally. As a testament, we recently released GenAI-powered multilingual capabilities on iOS Appstore that make us early forerunners on advanced use cases on the OEM ecosystem, aligned to our Affle2.0 growth strategy.”

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