Affle Q1 FY27: consolidated PAT ₹128.4 Cr, +22% YoY, tracking 20% growth guidance

Affle 3i's consolidated revenue came in at ₹747.16 Cr, up 20.4% YoY and 3.1% QoQ, with consolidated PAT of ₹128.44 Cr, up 21.8% YoY and 7.5% QoQ; basic EPS rose to ₹9.13 from ₹7.52 a year ago. The growth rate tracks almost exactly to management's reiterated medium-term guidance of ~20% revenue CAGR from the Q4 FY26 call — a "met," not a beat. We found no specific published brokerage estimate for this quarter to grade the print against, so vsStreet is unknown rather than assumed.

Margins were broadly stable on the surface — net margin (PAT/total income) was 16.6%, versus 16.5% a year ago and 16.0% last quarter, while EBITDA-level margin (OPM) was 22.4%, versus 22.5% YoY and 22.3% QoQ. Underneath, gross cost pressure persisted: inventory and data costs rose to 63.2% of consolidated revenue from 60.9% a year ago, consistent with management's prior statement that gross margins would stay temporarily impacted by verticalization and premium-positioning investments, with recovery expected in about a year. That drag was offset at the operating line by leaner employee costs (8.8% of revenue vs 9.8% YoY) and other overheads (5.6% vs 6.8% YoY).

The stock went into the print at ₹1,645.6, up 12.1% over the past month of trading.

For context: this is the highest quarterly PAT in the last 6 quarters on our records; PAT has now risen for 2 consecutive quarters; revenue is at a 6-quarter high.

The standalone and consolidated stories diverge more than usual: standalone PAT grew a sharper 37.5% YoY to ₹40.84 Cr against the consolidated 21.8%, implying the international subsidiary base (roughly two-thirds of Group profit) grew earnings more slowly than the India entity this quarter — worth flagging since readers may encounter the higher standalone growth number elsewhere.