Chennai, India – July 27, 2023: LatentView Analytics Limited (BSE: 543398, NSE: LATENTVIEW), a global digital analytics consulting and solutions firm, today announced its financial results for the First Quarter of FY24 ended June 30, 2023.
Commenting on the Q1FY24 results, Rajan Sethuraman, Chief Executive Officer, LatentView Analytics, said,
“We are pleased to report another quarter of consistent growth fuelled by our continued focus on customer service excellence, execution and investments in building capabilities. Revenue grew 23.1% on a Y-o-Y basis and 4.7% on Q-o-Q in Q1FY24. The growth was broad-based, led by Technology, Financial Services, and CPG. In the current uncertain macroeconomic environment, the need for data-driven decision-making has become more crucial. Enterprises are grappling with challenges ranging from disruptive technologies to changing consumer behaviour. This is where LatentView plays a vital role. We continue to see strong demand for our services across Consulting and Data Engineering. As we move forward, we remain committed to delivering profitable growth thus maximizing the value for our shareholders.”
Rajan Venkatesan, Chief Financial Officer, LatentView Analytics, said,
“Despite macroeconomic volatility, we were able to maintain our growth momentum and reported revenue growth of 4.7% on a Q-o-Q basis and 23.1% on a Y-o-Y basis in Q1 FY 24. EBITDA margin was at 19.0%, a decline of 235bps Q-o-Q primarily due to seasonally higher visa cost, wage hikes, and increased GTM spends in line with our commitment to building a growth engine for the future. We will continue to remain focused on strong execution and stay prudent in allocation of capital. Our Cash and Investments (excluding proceeds from the IPO) as of June 30, 2023, stood at ₹ 8,531 million.”
Key Financial Highlights
| Particulars ₹ Million | Q1FY24 | QoQ Growth | YoY Growth | FY 23 |
| Operating Revenue | 1,477 | 4.7% | 23.1% | 5,388 |
| EBITDA | 281 | (6.8%) | (19.3%) | 1,451 |
| EBITDA % | 19.0% | (235 bps) | (998 bps) | 26.9% |
| PBT | 428 | 1.2% | 2.3% | 1,894 |
| PBT % | 25.8% | (123 bps) | (639 bps) | 31.9% |
| PAT | 329 | (3.9%) | 4.4% | 1,554 |
| PAT % | 19.8% | (207 bps) | (442 bps) | 26.1% |
| Basic EPS (₹) | 1.60 | (4.50%) | 3.1% | 7.71 |
Select Key Client Wins in Q1FY24
- A well-known American multinational fast-food chain partnered with LatentView to deliver insights that drive pricing decisions and personalized promotions for the client’s customers across 100+ regions.
- A professional football league partnered with LatentView to lead their data transformation vision. LatentView created a centralized data repository, migrated their data, and optimized business intelligence and reporting with Power Platform and augmented BI.
- A leading automotive manufacturer partnered with LatentView to automate and optimize finite production scheduling by considering real-time constraints (human, machine, and material) and aligning production with market priority and material availability.
- A prominent tyre and mobility company partnered with LatentView to develop an enterprise model monitoring system, covering all business units and model families. This system will help the client monitor the health of the machine learning models and take timely remedial action on the alerts and recommendations generated, thereby improving their business KPIs.
- LatentView partnered with one of the largest global non-profit organization focusing on multiple myeloma, to create an AI-powered knowledge platform. The platform provides patients with personalized dashboards mapping their medical history. It also serves as a digital touchpoint to provide appropriate medical recommendations.
Other Business Highlights of Q1FY24
- This quarter, LatentView welcomed Sanjay Singh to its Advisory Council. Sanjay has 30+ years of strategic business experience as a Chief Financial Officer at some of the world’s leading consumer product and retail brands, including Qurate (formerly known as QVC), Abercrombie & Fitch, and Procter & Gamble.
- LatentView Analytics has been honoured and featured among the Top 50 Mid-size Workplaces in India for 2023. This significant milestone is a testament to the exceptional work environment of the company that fosters growth, collaboration, and innovation. LatentView’s focus remains strong on creating a positive impact within the organization and in the broader world of analytics.
- LatentView has received bronze rating in the company’s first EcoVadis Sustainability Ratings. This highlights LatentView’s readiness for, and dedication to sustainable and responsible business practices.
