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Latent View Analytics Limited — Interim / Quarterly Report 2024
Oct 27, 2023
59599_rns_2023-10-27_e96a48f5-08e1-4ae2-9a6c-68bc98017926.pdf
Interim / Quarterly Report
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October 27, 2023
BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400 001. Scrip Code: 543398
National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex Bandra East, Mumbai 400 051 Scrip Symbol: LATENTVIEW
Dear Sir/Madam,
Sub: Press Release - Unaudited Financial Results for the quarter and half year ended September 30, 2023 (Q2 & H1 FY 2023-24).
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed a copy of the press release on the financial results for the quarter and half year ended September 30, 2023 (Q2 & H1 FY 2023-24).
This is for your information and records.
Yours Sincerely,
Thanking you,
For Latent View Analytics Limited
PARTHASAR Digitally signed by PARTHASARATHY ATHY SRINIVASAN Date: 2023.10.27 SRINIVASAN 20:24:29 +05'30' P. Srinivasan Company Secretary and Compliance Officer
Press Release – Q2FY24
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LatentView Analytics Q2FY24 revenue grew 5.4% QoQ & 17.6% YoY; EBITDA Margin at 19.8%
Chennai, India – October 27, 2023 : LatentView Analytics Limited (BSE: 543398, NSE: LATENTVIEW), a global digital analytics consulting and solutions firm, today announced its financial results for the Second Quarter and Half Year of FY24 ended on September 30, 2023.
Commenting on the Q2FY24 results, Rajan Sethuraman, Chief Executive Officer, LatentView Analytics, said ,
“We are happy to report positive headline numbers in-line with our guidance, which is a testimony to our deep client relationships, continuous value addition, service excellence and unwavering commitment to our customers. Despite the uncertain macroeconomic environment, quarterly revenue from operations grew 5.4% and 17.6% on a sequential and Y-o-Y basis, respectively. Revenues in H1FY24 grew 20.2% on a Y-o-Y basis in-line with the quarterly performance. We are happy to report positive traction for our value-led offerings, and in the European region, during the quarter”.
Rajan Venkatesan, Chief Financial Officer, LatentView Analytics, said ,
“Q2FY24 revenue from operations grew by ₹233Mn (Y-o-Y) and ₹80Mn (sequentially). Operating profit grew by ₹27Mn (80 bps) compared to the previous quarter on the back of growth in existing business and efficient cost management. With most of the investments behind us, our focus is now on driving strong execution and growth. Cash and Investments (excluding proceeds from the IPO) as of September 30, 2023, stood at ₹9,058 million. Our closing headcount stood at 1,146 and we welcomed 84 campus hires during the quarter.”
Key Financial Highlights
| Particulars | QoQ | YoY |
YoY | ||
|---|---|---|---|---|---|
| ₹ Million | Q2FY24 | Growth |
Growth | H1FY24 | Growth |
| Operating Revenue |
1,557 | 5.4% | 17.6% | 3,034 | 20.2% |
| EBITDA | 308 | 9.7% | (17.5%) | 589 | (18.4%) |
| EBITDA % | 19.8% | 77 bps | (842 bps) | 19.4% | (917 bps) |
| PBT | 447 | 4.4% | 3.0% | 874 | 2.7% |
| PBT % | 25.9% | 2bps | (482 bps) | 25.9% | (557 bps) |
| PAT | 340 | 3.5% | (8.7%) | 669 | (2.7%) |
| PAT % | 20% | (14 bps) | (670 bps) | 20.0% | (559 bps) |
| Basic EPS (₹) | 1.66 | 3.8% | (10.7%) | 3.26 | (4.8%) |
Select Key Client Wins in Q2FY24
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A well-known American producer and seller of homemade pet food partnered with LatentView Analytics to lead their data engineering vision. LatentView created a centralized data warehouse for workforce management, ingested data from various source systems, and optimized business intelligence reports with GCP and Looker.
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A leading commercial lender based out of the US partnered with LatentView to increase funnel uptake and drive adoption through funnel conversion analysis, page level conversion and funnel metrics, A/B testing, experimentation, measurement and reporting for product and data teams.
Classification: Confidential Contains PII: No
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Other Business Highlights of Q2FY24
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We are happy to welcome Jai Kibe on board as a LatentView Analytics Advisory Council member. Jai has over 25 years of experience building and implementing digital solutions for rapidly growing brands. His recent role was at SC Johnson as the Senior Vice President and CMO. Before that, he led marketing strategy at Coca-Cola for over 23 years, holding various leadership positions.
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In July 2023, the 15ᵗʰ edition of LatentView Analytics’ flagship roundtable was held in New York, with the theme “Chaos to Clarity: Analytics can help you reprioritize” . Industry leaders explored the need for reprioritizing organizational strategies to drive growth and ultimately achieve better outcomes by harnessing the power of data analytics.
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In July 2023, we partnered with Amazon Web Services (AWS) to host a CXO Roundtable for innovation and supply chain leaders in the CPG, retail and manufacturing industries, to showcase how data and AI can enable smarter new product development and help create a connected supply chain.
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In September 2023, we hosted our annual CXO Executive Lunch Series in Dallas, Texas, under the title “Precision & Persuasion: The Science of Data-driven Personalization”, to explore the winning trick to achieve balanced personalization, and finding the sweet spot where tailored experiences enhance customer satisfaction.
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LatentView Analytics was named a leader in the PeMa (Penetration-Maturity) Quadrant 2023 by Analytics India Magazine for Data Science Service Providers in August 2023.
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Rajan Sethuraman, CEO of LatentView Analytics, has been recognized as one of the AIM Top 20 CEOs of Data Science Service Providers for 2023.
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LatentView Analytics has continued to be recognized as a Great Place to Work® for 2023-24 and has also been recognized this year as one of India's Best Workplaces for Women.
About LatentView Analytics
Latent View Analytics Limited (LatentView) is a global data analytics company that inspires and transforms businesses to excel in the digital world by harnessing the power of data. The Company provides a 360-degree view of the digital consumer, enabling companies to predict new revenue streams, anticipate product trends and popularity, improve customer retention rates and optimize investment decisions. LatentView is a trusted partner to enterprises worldwide, including 30+ Fortune 500 companies in the Technology, Financial services, CPG, Retail, and Healthcare sectors. LatentView Analytics partners with clients across the United States, Germany, UK, Netherlands, Singapore, India and has over 1100+ employees. For more information, please visit https://www.latentview.com/ or follow us on LinkedIn.
Safe Harbour
This release may contain certain forward-looking statements, which involves risks and uncertainties that could cause actual results to differ materially from those that be projected by these forward-looking statements. LatentView Analytics Ltd. undertakes no obligation to update forward looking statements that may be made by us from time to time by us or on our behalf.
| For more information please contact: | For more information please contact: |
|---|---|
| LatentView Analytics Limited Srinivasan P [email protected] |
Ernst & Young LLP, Investor Relations Diwakar Pingle [email protected] Asha Gupta [email protected] |
Classification: Confidential Contains PII: No