Affle India shares have gained 26.5 per cent in the last three months.This stock has given 17 per cent profit to investors in one month. In one year, it has given around 37 per cent return to the investors.
New Delhi. The stock of AFL India, a company that provides mobile advertising services through information technology and software development, has been rising strongly in the last two trading sessions. On Tuesday, the stock rose 9.5 percent intraday to reach its new 52-week high of Rs 1,465. This rise in the FL stock has come after brokerage firm Citi gave this stock a ‘buy’ rating. In its report, the brokerage had expressed hope that the FL stock could give investors a profit of up to 17 percent in the coming time.
The brokerage said it sees Affle India’s growth prospects as strong. The company relies on increased use of digital ad spend and is well positioned to benefit from improving mobile ad budgets. In addition, its return on equity (RoE)-based merger and acquisition strategy should significantly boost its business in several key markets, including the US. “We expect its revenue to expand by 20 per cent and EBIT margin by 4 per cent during FY2024-27,” Citi said.
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Target price given is Rs 1,600
Citi analysts have predicted that Affle India’s shares will go up to Rs 1,600. This indicates a possibility of a rise of about 17 percent from its current price. Affle India’s shares have risen by 26.5 percent in the last three months. This stock has risen by 17 percent in one month. In the last one year, it has given about 37 percent return to investors.
Profit increased in March quarter
Afl India’s net profit in the March quarter grew 40 per cent to Rs 87.5 crore from Rs 62 crore in the same quarter of the previous financial year. The company’s profit increased by 14 per cent on a quarterly basis. Afl India’s revenue grew 42 per cent to Rs 506 crore in the March quarter, as against Rs 356 crore a year ago. For the entire financial year 2024, the company’s profit grew 21.5 per cent to Rs 297 crore from Rs 244.58 crore in the same quarter of the previous financial year.
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first published : July 10, 2024, 06:58 IST
