LatentView Analytics posted a consolidated revenue from operations of ₹539 crore in FY23, which is the highest ever full-year revenue in the history of the company. In FY22, the company’s revenue from operations stood at ₹408 crore.
The Chennai-based data analytics and consulting firm posted a consolidated net profit, on a year-on-year basis, that went up by 20 per cent to ₹155.4 crore in FY23 against a net profit of ₹129.5 crore in FY22.
Profit before tax (PBT) for the full year was up by 44 per cent to ₹189 crore (₹131 crore). The company said its FY22 net profit and PBT had an exceptional item to the extent of ₹22.6 crore.
Rajan Sethuraman, Chief Executive Officer, LatentView Analytics, said the full-year revenue and profit margins in FY23 were the highest ever in the history of our company.
“The growth was broad-based across technology, financial services, and consumer packaged goods.” We ended the year with a headcount of 1,116,” Sethuraman added.
For the fourth quarter, the company’s net profit was down by 4 per cent to ₹34.2 crore against ₹35.6 crore during the corresponding quarter of FY22. Revenue from operations for the latest quarter was up by 25 per cent to ₹156.1 crore (₹125.3 crore). However, net profit was marginally down due to a 34 per cent jump in total expenses during the quarter at ₹113.8 crore (₹85 crore).
Rajan Venkatesan, CFO, LatentView Analytics, said the company was able to deliver strong growth in FY23 despite macroeconomic uncertainties. He added that the company had cash and investments (excluding proceeds from the IPO) ₹825 crore as of March 2023.
Shares of LatentView Analytics closed at ₹374.25 apiece on NSE, 2.23 per cent higher than Monday’s closing price.
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Published on May 9, 2023
