By Aditya Raghunath
Investing.com -- Shares of mobile marketing firm Affle India Ltd (NS: AFFL ) have been locked in their upper circuit for the second day in a row after the company announced a 1:5 stock split.
For Q1 FY22, the company posted a 70% increase in net sales to Rs 152.47 crore and a 90.4% increase in net profit to Rs 35.73 crore.
The company has been under huge selling pressure in 2021. The stock dropped over 36% From Rs 6,004 in March to Rs 3,836 on August 23 before news of the split began to surface and the stock began to rally.
Brokerage firm Sharekhan is bullish on the stock. After its results came out its report said, “Affle India delivered another quarter of strong revenue growth in Q1FY2022 despite the devastating impact of second wave of COVID-19 in India, aided by broad-based growth across markets.”
It added, “Increasing direct customers’ revenue contribution and partnerships with OEMs would help Affle to maintain its market position given higher access to first-party data; expect revenue/earnings to post a CAGR of 45%/32% over FY2021-FY2024E. We maintain a Buy on Affle (India) Limited with a revised PT of Rs. 6,000, given greater adoption of its platforms, a unique CPCU business model and expansion into new geographies.”
Affle India is currently trading at Rs 4,363.35
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.