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Informist, Saturday, Aug. 8, 2026

 

MUMBAI – Technology company Affle 3i Ltd. is expected to post sequential revenue growth for the June quarter led by strong growth in emerging

markets, according to brokerages tracking the company. However, the company's net profit will remain flat due to an increase in operating costs.

 

The company's consolidated net profit for the June quarter is expected to be flat on quarter at INR 1.20 billion, according to the average of estimates from six brokerages. This will be up 13% on year from INR 1.06 billion. The highest estimate for the company's net profit is INR 1.26 billion from 360 ONE Capital Markets Pvt. Ltd. while the lowest is INR 1.08 billion from Dolat Capital Markets Pvt. Ltd.

 

The company's consolidated net sales are expected to grow 3% on quarter to INR 7.43 billion from INR 7.24 billion, according to the estimates. The company's net sales are expected to grow 20% on year from INR 6.21 billion in the year-ago quarter. The highest estimate for net sales is INR 7.45 billion from Elara Securities (India) Pvt. Ltd. while the lowest is INR 7.40 billion from Dolat Capital.

 

Affle 3i's revenue growth for the June quarter is expected to be driven mainly by emerging markets where demand remains strong while the company is expected to report stable growth in developed markets. Growth in India will lag due to the ban on online gaming using money, Anand Rathi Share and Stock Brokers Ltd. said.

 

The growth in conversion of users will also aid the company's revenue growth for the June quarter. The company charges customers by converted users on a cost per user basis. The company is spending more on advanced advertising technology and is increasing its use of artificial intelligence, Axis Securities said.

 

For the March quarter, revenue from India and emerging markets accounted for 72% of total revenue for Affle 3i and developed markets accounted for 28% of total revenue.

 

Elara Securities expects the company's earnings before interest, tax, depreciation, and amortisation to grow to INR 1.65 billion from INR1.61 billion in the March quarter. The margins are projected to remain steady because operating leverage offsets higher employee costs and acquisition-related costs, the brokerage added. The acquisition related costs will arise from the purchase of select assets and technology of AdColony Technology from DT, formerly Digital Turbine, for $4.70 million.

 

Affle 3i will detail its earnings for the June quarter Saturday. Investors will watch the outlook of the company on digital advertising spending, cost per unique user conversion, performance of international business, revenue from market, and the pipeline of merger and acquisition. Friday, shares of Affle 3i closed at INR 1,645.60 apiece on the National Stock Exchange, down 2.6% from Thursday. The stock is trading slightly up since the company announced its march quarter earnings on May 9.

 

All six brokerage reports on the company available with Informist have a "buy" recommendation on the stock with an average target price of INR 1,988 per share, which is 21% than the closing market price Friday.

 

Followings are the Apr- Jun earnings estimates for Affle 3i from six brokerages, in descending order of the estimate of net profit, in INR billion:

 

Brokerage Firm	Net Sales	Net Profit	EBITDA
360 ONE Capital Market Pvt. Ltd.	7.42	1.26
JM Financial Institutional Securities Pvt. Ltd.	7.45	1.22
Axis Securities Ltd.	7.41	1.21
Elara Securities (India) Pvt. Ltd.	7.45	1.21	1.65
Anand Rathi Share and Stock Brokers Ltd.	7.45	1.20
Dolat Capital Market Pvt. Ltd.	7.40	1.08
Average	7.43	1.20	1.65

 

End

 

Reported by Diksha Singh

Edited by Pankaj Aher

 

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