Chennai : LatentView Analytics Limited (BSE: 543398, NSE: LATENTVIEW), a leading pure-play data analytics company and a trusted partner to the world’s most recognized brands, today announced its financial results for the First Quarter ended on June 30, 2022.

Commenting on Q1FY23 results, Rajan Sethuraman, Chief Executive Officer, LatentView Analytics said, “Our Q1FY23 performance was in-line with our expectations, and we are happy to report a revenue growth of 37% on YoY basis. I am pleased to share that our investments in the front-end sales team, building capabilities, assets and accelerators are showing results. We had healthy client additions during the quarter where we were brought on board as analytics thought partner including two in financials services. We onboarded a Business Head for the Retail practice to help accelerate the traction we are seeing in the marketplace. During the quarter, we launched our supply chain value proposition, ConnectedView, to help organizations leverage the power of data and analytics to create visibility across entire supply chain ecosystems and overcome barriers and disruptions. We continue to see strong demand for our services across Consulting and Data Engineering. We have started seeing revenue through strategic roadmap consulting, which will act as a force multiplier for new account conversion and account growth. We brought on board our new business head for Europe to increase our footprint and focus in the region. We ended the quarter with a headcount of 963, representing a net addition of 103 employees including 84 campus hires. We remain committed to delivering profitable growth thus maximizing the value for our shareholders.”

Rajan Venkatesan, Chief Financial Officer, LatentView Analytics said, “We reported revenue of         ₹ 1,199 million witnessing a growth of 37% YoY. Specifically, Financial Services vertical grew by 17% and technology, which is our largest vertical, grew by 15% during Q1 FY23. Our EBITDA margin for the quarter was at 29%. We recorded the highest PBT (before exceptional items) of ₹ 418 million reflecting a growth of 46.4% YoY and 3.7% QoQ. Our Cash and Investments (excluding proceeds from the IPO) as of June 30, 2022 stood at ₹ 5,879 million. Our niche business model and strong client relationships positions us well to capture growth momentum in the coming quarters.”