Latent View Analytics reports Q1 consolidated PAT at Rs 32.85 crore

Chennai: Global digital analytics consulting and solutions firm Latent View Analytics Ltd has reported a consolidated profit after tax for the quarter ending June 30, 2023, at Rs 32.85 crore, the company said on Thursday.

The city-based company registered a consolidated net profit of Rs 31.47 crore during the corresponding period of last year.

For the year ending March 31, 2023, the consolidated net profit stood at Rs 155.43 crore.

Commenting on the financial performance, Chief Executive Officer Rajan Sethuraman said: "We are pleased to report another quarter of consistent growth fuelled by our continued focus on customer service, excellence, execution, and investments in building capabilities." The consolidated total income during the quarter under review grew to Rs 165.56 crore from Rs 129.73 crore recorded in the corresponding period of last year.

The consolidated total income for the year ending March 31, 2023, was at Rs 594.52 crore.

"Revenue grew 23.1 per cent on a year-on-year basis and 4.7 percent on quarter-on-quarter in Q1 FY24. The growth was broad-based led by technology, and financial services. In the current uncertain macroeconomic environment, the need for data-driven decision-making has become more crucial," the CEO said.

"We continue to see strong demand for our services across consulting and data engineering. As we move forward, we remain committed to delivering profitable growth thus maximising the value for our shareholders," he added.