LatentView Analytics reports Q1 net profit of Rs 38.92 cr, revenue up 21%

Digital analytics consulting and solutions provider LatentView Analytics has recorded a net profit of Rs 38.92 crore, for the April-June 2024 quarter, the company said on Friday.

The city-based company had registered a net profit of Rs 32.85 crore during the corresponding quarter last year.

For the year ending March 31, 2024 the net profit of the company stood at Rs 158.64 crore.

Total income during the quarter under review grew to Rs 196.31 crore from Rs 165.56 crore registered in the same period a year ago. The total income for the year ending March 31, 2024 is Rs 714.38 crore.

Commenting on the financial performance, company Chief Executive Officer Rajan Sethuraman said, "We have started the fiscal year on a positive note with a strong performance. For Q1FY25, our revenue grew by 21.1 per cent on a year-on-year basis and 4.2 per cent sequentially. Our continued growth momentum is a testament to the strong execution by our team."

LatentView Analytics Chief Financial Officer Rajan Venkatesan said, "With the acquisition of Decision Point Analysis completed on July 1, 2024, we have fully utilised the proceeds raised during our IPO well ahead of stated timelines. We remain committed to investing for organic and inorganic growth opportunities."

He further said, "As of June 30, 2024, our headcount stood at 1,261, cash and investments (excluding IPO proceeds) remained strong at Rs 11,330 million (Rs 1,133 crore)."

Early this month, LatentView Analytics said it had completed the acquisition of Decision Point Analysis which is a global leader in Artificial Intelligence Business Transformation and a Revenue Growth Management solution provider.

The acquisition provides LatentView with growth opportunities and Revenue Growth Management and GenAI solutions, for global brands engaged in the Consumer Packaged Goods (CPG) vertical.

"The integration of our recent Decision Point Analysis acquisition has been successfully completed and this will bolster our footprint in the CPG vertical and in delivering business value to our clients through Revenue Growth Management and GenAI expertise," Sethuraman said.