Affle India surges after strong quarterly results

Affle 3i

11/11/2021 06:07

** Shares of technology co  AFFL.NS  rise as much as 8.9% to
1,180.95 rupees - their highest since Oct. 18 
    ** Co says https://bit.ly/3ocML02 September-quarter
consolidated net profit rose 77.1% y-o-y to 476.1 mln rupees
($6.41 mln)
    ** Consolidated revenue from contracts with customers
climbed to 2.75 bln rupees from 1.35 bln rupees a year ago
    ** "Continue to witness a strong market opportunity with
advertisers consistently accelerating their digital spends" -
says https://bit.ly/3D4KWZq CEO Anuj Khanna Sohum 
    ** Digitalization demands to help in broad-based growth
across industry verticals coming from both India and
international markets - Sohum 
    ** AFFL stock marks its biggest intraday pct gain since Feb.
11, up for a fifth session in eight
    ** More than 523,000 shares trade by 0530 GMT, 1.4 times
their 30-day avg of over 364,000 shares
    ** As of last close, AFFL stock had risen 43.4% this year vs
a 47.3% gain in the Nifty IT index  .NIFTIT 
   
($1 = 74.3325 Indian rupees)

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))