LatentView Analytics Q3FY24 revenue grew 14% YoY and 6.4% QoQ; EBITDA Margin at 22.2%
LatentView Analytics Limited (BSE: 543398, NSE: LATENTVIEW), a global data analytics, consulting, and solutions firm, today announced its financial results for the third quarter and nine months of FY24 ended on December 31, 2023.
Commenting on the Q3FY24 results, Rajan Sethuraman, Chief Executive Officer, LatentView Analytics, said,
“We are glad to report another quarter of healthy growth and are particularly proud to cross the significant milestone of this being the first-ever quarter to achieve $20M+ in revenue. We are thankful for the ongoing trust and support from our clients, which has led to our sustained growth. In Q3FY24, our revenue witnessed a sequential growth of 6.4% and 14.0% on a YoY basis, primarily driven by higher revenue from existing clients. We continue to see robust momentum for our value-led offerings across geographies. We remain committed to proactively delivering strategic business outcomes through our value-proposition led and domain-focused approach.”
Rajan Venkatesan, Chief Financial Officer, LatentView Analytics, said,
“For Q3FY24, we reported an operating revenue of ₹1,657 million and, despite the challenging macro-economic environment, were able to improve EBITDA margin to 22.2%, up 242 bps during the quarter. Margin expansion was driven by operational efficiency and operating leverage kicking in. On the strength of the core business and the continued momentum expected in the coming quarters, we will continue to invest for growth. Cash and Investments (excluding proceeds from the IPO) as of December 31, 2023, stood at ₹ 10,520 million.
Key Financial Highlights
| Particulars ₹ Million | Q3FY24 | QoQ Growth | YoY Growth | 9MFY24 | YoY Growth |
| Operating Revenue | 1,657 | 6.4% | 14% | 4,690 | 17.9% |
| EBITDA | 368 | 19.4% | (14.1%) | 956 | (16.8%) |
| EBITDA % | 22.2% | 242 bps | (726 bps) | 20.4% | (851 bps) |
| PBT | 566 | 26.7% | (8.7%) | 1,440 | (2.1)% |
| PBT % | 30.0% | 411 bps | (702 bps) | 27.3% | (622 bps) |
| PAT | 465 | 36.7% | (11.3%) | 1,134 | (6.5%) |
| PAT % | 24.7% | 495 bps | 668 bps | 21.5% | 613 bps |
| Basic EPS (₹) | 2.27 | 36.4% | (12.9%) | 5.53 | (8.3%) |
Select Key Client Wins in Q3FY24
- We assisted a large global food and beverage manufacturer in understanding evolving consumer preferences and predicting the success rate of new product launches by leveraging AI and ML.
- We helped one of the world’s largest asset administrators to implement a unified data platform crucial for their IPO. We efficiently consolidated data from varied fund management, sales, and HR systems across multiple geographies with our MigrateMate solution.
- We transformed sales analysis for a major biscuit manufacturer, creating a CEO-visible tool that streamlines decision-making with precise data mapping. This innovation saves a week in report preparation and enhances Middle East market reviews, saving 30 hours monthly.
- LatentView boosts top-line growth at one of the largest chemical firms with a strategic pricing project in Europe. Additionally, we collaborate on an AI/ML-driven solution for wastewater treatment optimization in a key North American plant.
Other Business Highlights of Q3FY24
- LatentView is a proud partner in Unilever’s DataLab Ecosystem: Unilever recently launched the DataLab Ecosystem to boost its in silico strategy through collaborative innovation. Together with LatentView, Unilever is scaling DataLab to jointly address the biggest innovation opportunities and shape the future of Unilever R&D.
- Great Place to Work 2023-24: LatentView Analytics has been certified as a Great Place to Work and recognized among India’s Best Workplaces in 2023-24. These recognitions, among several others, have positioned LatentView Analytics as an employer of choice.
- In October 2023, LatentView Analytics’ flagship roundtable, titled “Game. Set. Breakthrough: Ace Innovation and Growth with AI,” was held in California. We brought together thought leaders to transcend AI fads with data-centric insights and explore opportunities for functional use cases across the enterprise.
- Several leaders from varied industries joined our Advisory Council.
- Angshuman Rajkhowa has 18+ years in Transaction Banking, with expertise in Strategy, Product Management, and Operations at global banks like RBS, ABN AMRO, and Standard Chartered.
- Finn Raben is a multilingual strategy and transformation leader with extensive experience in TNS Kantar, AC Nielsen, and Esomar, bringing unique expertise in research, data science, and change management.
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 1150+ employees. For more information, please visit https://www.latentview.com/ or follow us on LinkedIn.
