Affle India - Long Term Growth Trend Continues To Be Healthy: ICICI Direct
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ICICI Direct Report
Affle India Ltd.’s revenues increased 59.3% YoY (up 11.5% QoQ) to Rs 150.5 crore, mainly led by healthy growth in organic revenues (up 21% YoY) and inorganic revenues (at Rs 36 crore).
Ebitda margins were down 340 basis points YoY (flat QoQ) to 25.5%. Profit after tax was up 42.9% YoY to Rs 30.6 crore due to a lower tax rate.
The Indian region is expected to increase at 30% compound annual growth rate in the next five years led by increasing smart phone penetration and rising online shoppers from (120 million to 450 million CAGR of 24% over next five years).
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