Affle India Reports Strong Q2 Performance, Plans ₹7,490 Crore Preferential Share Issue
Affle India Limited reported robust Q2 FY2024 results with standalone profit reaching ₹18.17 crore and revenue at ₹133.83 crore. Consolidated profit stood at ₹66.78 crore with revenue of ₹431.30 crore. The company completed the acquisition of YouAppi Inc. for USD 45 million in May 2023. Affle's Board approved a preferential issue of 6.9 million equity shares worth up to ₹749.02 crore, subject to shareholder approval. The company maintains a 24.07% stake in Bobble, valued at ₹135.03 crore.

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Affle 3i Limited (NSE: AFFLE) has reported robust financial results for the quarter ended September 30, 2023, along with plans for a significant preferential share issue. The company's performance and strategic moves highlight its growth trajectory in the digital advertising and technology sector.
Q2 Financial Highlights
Affle India demonstrated strong financial performance in the second quarter:
- Standalone profit reached ₹18.17 crore, up from ₹15.58 crore in the previous quarter.
- Standalone revenue from operations stood at ₹133.83 crore.
- On a consolidated basis, the company reported:
- Profit of ₹66.78 crore
- Revenue from operations of ₹431.30 crore
Strategic Acquisition
In a significant move to expand its global footprint, Affle India completed the acquisition of YouAppi Inc. in May 2023:
- Acquisition value: USD 45 million (approximately ₹372.00 crore)
- YouAppi Inc. has been consolidated into Affle's financials from May 1, 2023
Preferential Share Issue
The Board of Directors has approved a substantial preferential issue of equity shares:
- Number of shares to be issued: 6.9 million
- Maximum value of the issue: ₹749.02 crore
- Subject to shareholder approval at an extraordinary general meeting scheduled for November 17, 2023
This move is likely aimed at strengthening the company's capital base and supporting future growth initiatives.
Investment in Bobble
Affle India continues to maintain its investment in Bobble:
- Stake: 24.07%
- Valuation: ₹135.03 crore
- Status: Held for sale
The company's strategic investment in Bobble, a conversational media platform, aligns with its focus on innovative digital technologies.
Affle India's strong quarterly performance, coupled with its recent acquisition and plans for a preferential share issue, signals the company's ambitious growth strategy in the dynamic digital advertising landscape. The successful integration of YouAppi Inc. and the potential capital infusion from the share issue could further bolster Affle's market position and technological capabilities.
Historical Stock Returns for Affle 3i
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
---|---|---|---|---|---|
+1.20% | +1.14% | -1.50% | +34.54% | +18.48% | +241.35% |