Latent View slumps 9% after profit shrinks QoQ

The company reported a net profit of Rs 34.20 crore in March quarter, down 34.81 percent from a quarter ago. Revenue fell 3 percent to Rs 141.06 crore from last quarter.

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Shares of Latent View Analytics Ltd dropped as much as 9 percent on May 10 after the firm reported a 35 percent decline in its net profit sequentially.

At 10.22 am, the stock was trading at Rs 343 on BSE, down 8 percent from previous close while India’s benchmark Sensex fell 0.2 percent to 61616 points.

The company reported a net profit of Rs 34.20 crore in the March quarter, down 34.81 percent from a quarter ago. Revenue fell 3 percent to Rs 141.06 crore from last quarter. EBIT margin declined to 19.77 percent from 27.89 last quarter.

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In the fiscal year, the company achieved significant year-on-year growth in its top line, with a growth rate of 32.10 percent, amounting to Rs 538.76 crore. Additionally, the bottom line also experienced a growth of 20.01 percent compared to the previous year, reaching Rs 155.43 crore.

The operational profitability, measured by earnings before interest and tax (EBIT), showed improvement with a growth of 19.82 percent to Rs 136.23 crore. However, the EBIT margin decreased from 33.40 percent in FY22 to 21.10 percent in FY23.

“We are pleased to report the highest ever full-year revenue and profit margins in the history of our company. Our revenue grew by 32 percent on a year-on-year basis for FY23. The growth was broad-based across Technology, Financial Services and CPG. Enterprises are increasingly relying on data-driven insights to ensure accuracy and precision in their decision-making, maximizing efficiency and competency in today’s highly competitive and uncertain macroeconomic environment”, said Rajan Sethuraman, Chief Executive Officer, LatentView Analytics

“As we move forward, we remain committed to investing in growth opportunities and expanding our capabilities”, Sethuraman added.