Affle India announced that the Annual General Meeting (AGM) of the company will be held on 23 September 2022.

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Affle India announced that the Company is in the process of negotiating / executing an agreement to partially divest its investment (Held for Sale) at a premium, in Talent Unlimited Online Services (“Bobble”). The Company shall further intimate, if and once the agreement is executed by the parties.

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The foreign broker reportedly cited that rising internet, smartphone and ecommerce penetration will benefit Affle India. It expects Affle to grow its revenues by 32% CAGR over FY22-25.

The broker reportedly stated that the company has multiple moats like patents, platforms, first mover advantage in India.

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

On a consolidated basis, Affle India's reported a revenue from operations at Rs 347.5 crore in Q1 FY2023, an increase of 127.9% y-o-y. EBITDA was at Rs 68.7 crore, an increase of 95.9% y-o-y. Profit After Tax (PAT) increased by 93.5% y-o-y to Rs 55.2 crore. This growth was broad-based coming from both Cost Per Converted User (CPCU) business and non-CPCU business, across India & International markets.

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Net profit of Affle India rose 52.62% to Rs 54.53 crore in the quarter ended June 2022 as against Rs 35.73 crore during the previous quarter ended June 2021. Sales rose 127.90% to Rs 347.48 crore in the quarter ended June 2022 as against Rs 152.47 crore during the previous quarter ended June 2021.

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