Chennai, India – July 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 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 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 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 ₹ 8,531 million.”