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IT stock jumps 5% after company's net profit increased by 40% YoY

IT stock jumps 5% after company's net profit increased by 40% YoY
The shares of a technology and software development services provider gained up to 5 percent after the company’s net profit and revenue increased by 40 percent and 42 percent YoY, respectively in the fourth quarter.

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Affle (India) Ltd's shares saw a 5 percent increase following a 40 percent rise in net profit and a 42 percent increase in revenue in the fourth quarter. The company's market capitalization is at Rs 17,813.56 crore, with shares trading at Rs 1,271 each, a 3.54 percent increase from the previous closing price. Affle (India) Ltd's revenue increased by 1.5 percent quarter-on-quarter and 42 percent year-on-year. Net profit also increased by 13 percent quarter-on-quarter and 40 percent year-on-year. The company operates globally and has patents related to digital advertising, AI, and voice-intelligence. However, profitability measures show a decline in return on equity and return on capital employed. Affle (India) Limited is a global technology company providing a consumer intelligence platform for mobile advertising. Investors are advised to exercise caution while investing in stocks.

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