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Latent View Analytics Ltd.
Q3FY24 Quarterly Result Announced for Latent View Analytics Ltd.
Data Processing Services company LatentView Analytics announced Q3FY24 results:
Financial Highlights:
- Operating Revenue: Reported at Rs 1,657 million, with the quarter witnessing a 6.4% sequential growth and a 14.0% YoY increase.
- EBITDA: Earnings before interest, tax, depreciation, and amortization (EBITDA) amounted to Rs 368 million, marking a 19.4% growth from the previous quarter. However, compared to the same quarter in the previous year, it decreased by 14.1%.
- EBITDA Margin: Improved to 22.2%, up from 19.8% in the previous quarter (a 242 basis points increase) but down from 29.8% year-over-year (a 726 basis points decrease).
- PBT (Profit Before Tax): Profit before tax stood at Rs 566 million, with a growth of 26.7% over the previous quarter and a decline of 8.7% YoY.
- PAT (Profit After Tax): PAT was reported at Rs 465 million, reflecting an increase of 36.7% over the previous quarter, but a YoY decrease of 11.3%.
- Basic Earnings Per Share (EPS): EPS for the quarter was Rs 2.27, showing a 36.4% increase from the previous quarter. However, when compared annually, there is a decrease of 12.9%.
Business Performance Highlights:
- Client Growth: Revenue growth was primarily driven by higher revenue from existing clients.
- Investments: Cash and investments stood at Rs 10,520 million as of December 31, 2023.
- Client Wins: Highlights include working with a large global food and beverage manufacturer using AI and ML to predict new product success rates.
Other Highlights:
- LatentView's partnership in Unilever's DataLab Ecosystem was cited, aiming to boost Unilever's in silico strategy.
- The company received certification as a Great Place to Work for 2023-24 in India.
- LatentView provided transformative analytics for various industry clients, including a major biscuit manufacturer and one of the world's largest asset administrators.
- Hosted a flagship roundtable in California focused on leveraging AI for innovation and growth.
- Appointment of two industry leaders, Angshuman Rajkhowa and Finn Raben, to its Advisory Council.
Rajan Sethuraman, CEO of 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, said: "For Q3FY24, we reported an operating revenue of Rs 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 Rs 10,520 million."
N.B : I wanted to emphasize that the views I express are strictly personal and should not be construed as financial advice. It is crucial to consult with your financial advisor before making any trades or investment decisions. The complexity and unpredictability of financial markets underscore the importance of seeking professional guidance tailored to your individual financial circumstances and goals.
Q3FY24 Quarterly Result Announced for Latent View Analytics Ltd.
Data Processing Services company LatentView Analytics announced Q3FY24 results:
Financial Highlights:
- Operating Revenue: Reported at Rs 1,657 million, with the quarter witnessing a 6.4% sequential growth and a 14.0% YoY increase.
- EBITDA: Earnings before interest, tax, depreciation, and amortization (EBITDA) amounted to Rs 368 million, marking a 19.4% growth from the previous quarter. However, compared to the same quarter in the previous year, it decreased by 14.1%.
- EBITDA Margin: Improved to 22.2%, up from 19.8% in the previous quarter (a 242 basis points increase) but down from 29.8% year-over-year (a 726 basis points decrease).
- PBT (Profit Before Tax): Profit before tax stood at Rs 566 million, with a growth of 26.7% over the previous quarter and a decline of 8.7% YoY.
- PAT (Profit After Tax): PAT was reported at Rs 465 million, reflecting an increase of 36.7% over the previous quarter, but a YoY decrease of 11.3%.
- Basic Earnings Per Share (EPS): EPS for the quarter was Rs 2.27, showing a 36.4% increase from the previous quarter. However, when compared annually, there is a decrease of 12.9%.
Business Performance Highlights:
- Client Growth: Revenue growth was primarily driven by higher revenue from existing clients.
- Investments: Cash and investments stood at Rs 10,520 million as of December 31, 2023.
- Client Wins: Highlights include working with a large global food and beverage manufacturer using AI and ML to predict new product success rates.
Other Highlights:
- LatentView's partnership in Unilever's DataLab Ecosystem was cited, aiming to boost Unilever's in silico strategy.
- The company received certification as a Great Place to Work for 2023-24 in India.
- LatentView provided transformative analytics for various industry clients, including a major biscuit manufacturer and one of the world's largest asset administrators.
- Hosted a flagship roundtable in California focused on leveraging AI for innovation and growth.
- Appointment of two industry leaders, Angshuman Rajkhowa and Finn Raben, to its Advisory Council.
Rajan Sethuraman, CEO of 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, said: "For Q3FY24, we reported an operating revenue of Rs 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 Rs 10,520 million."
N.B : I wanted to emphasize that the views I express are strictly personal and should not be construed as financial advice. It is crucial to consult with your financial advisor before making any trades or investment decisions. The complexity and unpredictability of financial markets underscore the importance of seeking professional guidance tailored to your individual financial circumstances and goals.
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