Affle India share price hits all-time high after firm reports 50% rise in Q2 net profit

Affle India share price soared 10% intraday to hit its all-time high of Rs 1,537.65 after the mobile advertisement firm's July-September net profit rose 50% year-on-year (YoY) to Rs 15.5 crore. Affle India stock opened with a gain of 10% today to touch an intraday high of Rs 1,537.65 on the BSE, also it's new all-time high ever recorded.

Affle India share price has risen 7% in a week and 28% in one month. Since its listing on August 8, 2019, the stock price of the global technology company has more than doubled against the issue price of Rs 745 per share.

As per market depth data available on the BSE, there is 52% buying against 48% selling on the current stock price. Volume-wise, shares amounting to 0.43 lakh and 5.67 lakh were currently trading on BSE and NSE counters. Volume traded on Monday has already crossed Friday's total volume.

Affle (India) share price is trading higher than 5, 20, 50, 100 and 200-day moving averages. Today, the stock has outperformed the 'Advertising & Media' sector by 7.29%, where the sector has grown 0.04% intraday.

Mobile advertising company's revenue from operations surged 40.4% to Rs 84.7 crore as against Rs 60.3 crore in the same quarter last year.

The 'Advertising & Media' sector firm also reported a healthy 41% year-on-year (YoY) jump in EBITDA (earnings before interest, tax, depreciation and amortisation) at Rs 21.7 crore during the September quarter (Q2FY20), while its margin improved to 25.7% from 25.6% yearly.

"Affle's growth strategy is anchored in India, our dominant and largest market, and international emerging markets like Southeast Asia, Middle East and Africa where we have a strong on-ground presence," said Chairman and Managing Director Anuj Khanna Sohum.

"The growth in Affle's consumer platform business was well supported by the overall consumer trends of greater time spent across connected devices, increased adoption of online payments and consistent growth in digital marketing spends across key industry verticals including e-commerce, food, travel, transport, entertainment/OTT/gaming, healthcare, BFSI/fintech, telecom and others," Sohum said.

By Rupa Burman Roy

YES Bank share price clocks world's biggest gain in one month, rises 78%

Sensex Today LIVE: Share market in red; Sensex loses 80 points, Nifty below 11,880; Nestle, Hero MotoCorp, UPL top losers