Mobile advertising firm Affle (India) Ltd on Saturday reported doubling of consolidated net profit to Rs 62.1 crore for the third quarter ended December 31, 2021.
The company had logged a profit after tax (PAT) of Rs 30.6 crore in the same quarter a year ago.
“This growth was broad-based coming from both CPCU (cost per converted use) business and Non-CPCU business, across India and international markets,” the company said in a statement.
“The accelerated consumer adoption of connected devices offers a significant opportunity for further scale and we remain optimistic of the industry macro-trends. We will continue to augment our global market leadership and invest to achieve our collective vision of reaching 10 billion connected devices in this decade ahead,” said Chairman, Managing Director and CEO Anuj Khanna Sohum.
Affle India also said it will acquire additional 28.33 per cent stake in Singapore-based mobile advertising firm Appnext over a period of next 18 months through its subsidiary Affle International Pte Ltd .
Affle has already acquired 66.67 per cent stake in Appnext in June 2020 with an option to acquire remaining 28.33 per cent and 5 per cent stakes in Appnext within 3 and 5 years.
“With regard to the option to acquire 28.33 per cent shares of Appnext, AINT (Affle International) has entered into a definitive Share Purchase Agreement to acquire 28.33 per cent shares of Appnext Pte. Ltd for a consideration of USD 8.21 million including the contingent incremental consideration of USD 4.75 million, to be paid over a period of 18 months,” Affle said in a regulatory filing.
With this acquisition, Affle’s shareholding in Appnext will increase to 95 per cent.
