 "LatentView Analytics Q2 results: Net profit rises to Rs 40.7 crore")
LatentView Analytics has reported consolidated profits for the July-September 2024 quarter at Rs 40.7 crore, the company said.
The city-based digital analytics consulting and solutions provider has reported a consolidated profit of Rs 34 crore during the corresponding quarter of the last financial year.
For the six month period ending 30 September, 2024, the profits went up to Rs 79.6 crore, from Rs 66.8 crore registered in the same period last year.
The total income during the quarter under review grew to Rs 231.5 crore, from Rs 172.66 crore registered in the same quarter of the last financial year.
For the half year ending September 30, 2024, the total income grew to Rs 427.8 crore, from Rs 338.2 crore recorded during the corresponding period last year.
Commenting on the financial performance, company Chief Executive Officer Rajan Sethuraman said, "We are pleased to announce the seventh sequential quarter of revenue growth, delivering Rs 209 crore in revenue and 34.2 per cent growth compared to Q2FY'24. The acquisition of Decision Point Analytics has concluded and integration of the delivery team is underway." "LatentView is now an Elite C&SI (Consulting and System Integrator) partner with Databricks and we will invest in growing this partnership by setting up a Databricks COE (Centre of Excellence) and building verticalised solutions," he said in a statement.
In March 2024, the Board of LatentView Analytics approved the acquisition of Decision Point by picking up 70 per cent of outstanding equity capital for USD 39.1 million. Decision Point established in 2012, is a leader in AI-led business transformation and revenue growth management and has about 300 employees.
LatentView Analytics for the second quarter ending 30 September, 2024 reported an operating revenue of Rs 209 crore with an adjusted EBITDA margin of 22.5 per cent up 110 basis points compared to the April-June 2024 quarter, company Chief Financial Officer Rajan Venkatesan said.
"Our headcount as on 30 September, 2024 stood at 1,609." he added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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