Data Analytics
Latentview Analytics posts flat net profit
CHENNAI: Data analytics firm LatentView Analytics post marginal growth in net profit for 2023-24 fiscal (FY24) amid challenging macroeconomic situation.
Its profit after tax (PAT) for the fiscal was Rs 158 crore, up 2% from last year and declined 2.8% (QoQ) on a sequential basis to Rs 45 crore in the March quarter. The company registered 19% growth in revenue to Rs 641 crore for the fiscal.
LatentView chief executive Rajan Sethuraman said the growth in the quarter was flat and the fiscal year was subdued. “New initiatives (by companies) have been a few and small due to macroeconomic uncertainties.” He expects recovery in six months around the end of second quarter.
Rajan said the company aims at diversifying its business and generating 20% of its total revenue from the consumer packaged goods (CPG) segment from around 8% at present.
R&D, supply chain and marketing analytics solutions are expected to help LatentView grow in the segment. It recently acquired Decision Point Analysis, which specialises in revenue growth management and price analytics and opened a centre of excellence for marketing analytics. It hopes to grow in the North America and European markets.
He further said the firm would continue to look at inorganic growth through acquisition and focusing on companies with expertise in data engineering and domain expertise in retail and banking and financial services sector. Currently, more than 70% of revenue comes from technology sector clients and roughly 12% from the industrial sector.
Its profit after tax (PAT) for the fiscal was Rs 158 crore, up 2% from last year and declined 2.8% (QoQ) on a sequential basis to Rs 45 crore in the March quarter. The company registered 19% growth in revenue to Rs 641 crore for the fiscal.
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LatentView chief executive Rajan Sethuraman said the growth in the quarter was flat and the fiscal year was subdued. “New initiatives (by companies) have been a few and small due to macroeconomic uncertainties.” He expects recovery in six months around the end of second quarter.
Rajan said the company aims at diversifying its business and generating 20% of its total revenue from the consumer packaged goods (CPG) segment from around 8% at present.
Expand
He further said the firm would continue to look at inorganic growth through acquisition and focusing on companies with expertise in data engineering and domain expertise in retail and banking and financial services sector. Currently, more than 70% of revenue comes from technology sector clients and roughly 12% from the industrial sector.
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