Affle posts PAT growth of 40.0% YoY for 9M FY2023

Affle reported a robust performance for Q3 FY2023 with a consolidated revenue from operations of Rs. 376.1 crore, an increase of 10.8% y-o-y from revenue of Rs. 339.4 crore in Q3 last year and an increase of 6.1% q-o-q. EBITDA stood at Rs. 80.4 crore, an increase of 18.7% y-o-y and 11.1% q-o-q. PAT increased by 14.8% y-o-y to Rs. 69.0 crore from Rs. 60.1 crore in Q3 last year and up by 17.6% q-o-q. PAT margin stood at 17.6% in Q3 FY2023 as compared to 17.1% in Q3 last year and 16.0% in Q2 FY2023. For 9M FY2023, consolidated revenue from operations was at Rs. 1,078.1 crore, an increase of 40.6% y-o-y. EBITDA was at Rs. 221.3 crore, an increase of 42.9% y-o-y. PAT up by 40.0% y-o-y to Rs. 182.9 crore. This growth was well-balanced across the three quarters of FY2023.

The CPCU business noted strong momentum delivering 6.8 crore converted users in Q3 FY2023, an increase of 15.9% y-o-y and taking the total converted users delivered in 9M FY2023 to 19.4 crore. Despite the global headwinds, 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 significant margin expansion on both q-o-q and y-o-y basis.

Commenting on the results, Anuj Khanna Sohum, the MD and CEO of Affle said: “We are elated to deliver yet another quarter of robust growth having achieved highest quarterly revenue & profitability run rate and in the last 9 months period of FY2023, we already surpassed previous full year’s EBITDA by 4%. Our unique CPCU business model, constantly augmented tech & product capabilities with focused execution on higher profitability and productivity underpinned our significant bottom-line margin expansion on both q-o-q and y-o-y basis. While the global headwinds were challenging, we continued to work with a marathon mindset focused on driving consumer conversions and ROI for our customers, drawing significant moat from our Affle2.0 strategy and innovation-led verticalized offerings to deliver a broad-based growth across our top industry verticals and markets. We remain confident of the long-term business prospects and are well positioned to drive sustainable organic growth as well as continue to evaluate inorganic opportunities with calibrated focus on higher bottom-line growth for FY2023 and beyond.”