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Data Processing Services company Latent View Analytics announced Q1FY24 results:
- Operating Revenue of Rs 1,477 million, up 4.7% QoQ and 23.1% YoY
- EBITDA of Rs 281 crore down 6.8% QoQ and 19.3% YoY
- EBITDA % of 19.0% down 235 bps QoQ and 998 bps YoY
- PBT of Rs 428 million, up 1.2% QoQ and 2.3% YoY
- PAT of Rs 329 million, down 3.9% QoQ and up 4.4% YoY
- PAT % of 19.8% down 207 bps and 442 bps YoY
- Basic EPS of Rs 1.60, down 4.50% QoQ and up 3.1% YoY
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 YoY basis and 4.7% on QoQ 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 behavior. 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 QoQ basis and 23.1% on a YoY basis in Q1FY24. EBITDA margin was at 19.0%, a decline of 235 bps QoQ primarily due to seasonally higher visa costs, wage hikes, and increased GTM spending 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 the allocation of capital. Our Cash and Investments (excluding proceeds from the IPO) as of June 30, 2023, stood at Rs 8,531 million.”
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