Chennai, India – January 29, 2024: LatentView Analytics Limited (BSE: 543398, NSE: LATENTVIEW), a global data analytics, consulting, and solutions firm, today announced its financial results for the third quarter and nine months of FY24 ended on December 31, 2023.
Commenting on the Q3FY24 results, Rajan Sethuraman, Chief Executive Officer, LatentView Analytics, said,
“We are glad to report another quarter of healthy growth and are particularly proud to cross the significant milestone of this being the first-ever quarter to achieve $20M+ in revenue. We are thankful for the ongoing trust and support from our clients, which has led to our sustained growth. In Q3FY24, our revenue witnessed a sequential growth of 6.4% and 14.0% on a YoY basis, primarily driven by higher revenue from existing clients. We continue to see robust momentum for our value-led offerings across geographies. We remain committed to proactively delivering strategic business outcomes through our value-proposition led and domain-focused approach.”
Rajan Venkatesan, Chief Financial Officer, LatentView Analytics, said,
“For Q3FY24, we reported an operating revenue of ₹1,657 million and, despite the challenging macro-economic environment, were able to improve EBITDA margin to 22.2%, up 242 bps during the quarter. Margin expansion was driven by operational efficiency and operating leverage kicking in. On the strength of the core business and the continued momentum expected in the coming quarters, we will continue to invest for growth. Cash and Investments (excluding proceeds from the IPO) as of December 31, 2023, stood at ₹ 10,520 million.
