 "Latent View Analytics slumps 9% despite record revenue in FY23; check why")
Shares of LatentView Analytics plunged 8.8 per cent on the BSE, to Rs 340 apiece in Wednesday's intra-day trade, after the company posted weak earnings on a quarterly basis during Q4FY23. At 10:13 AM, shares of the company were down 8 per cent to Rs 343 as against 0.25 per cent dip in the S&P BSE Sensex.
During the March quarter of FY23, LatentView's operating profit fell 3 pe cent quarter-on-quarter (QoQ) to Rs 141.1 crore, while Ebitda fell nearly 30 per cent to Rs 30.1 crore. Ebitda margin, too, shrank to 21.4 per cent from 29.5 per cent QoQ.
The net profit, meanwhile, dropped 35 per cent QoQ to Rs 34.2 crore, with net profit margin contracting to 21.9 per cent from 31.3 per cent.
That said, for the full financial year (FY23), Latent View's revenue from operations reached an all-time high of Rs 538.8 crore, up 32 per cent YoY. Total income jumped 38.6 per cent YoY to Rs 594.5 crore, and Ebitda climbed 19 per cent to Rs 145.1 crore. Ebitda maegin, however, fell on a yearly basis, too, to 26.9 per cent from 29.9 per cent.
Also Read
Net profit for the year stood at Rs 155.4 crore.
"We are pleased to report the highest ever full-year revenue and profit margins in the history of our company. Our revenue grew at 32 per cent on year-on-year basis for FY23. The growth was broad-based across Technology, Financial Services and CPG. Enterprises are increasingly relying on data-driven insights to ensure accuracy and precision in their decision-making, maximizing efficiency and competency in today's highly competitive and uncertain macroeconomic environment. This is especially true in Supply chain, Data Engineering and Consulting services, all of which are our areas of expertise," Rajan Sethuraman, chief executive officer, LatentView Analytics said while commenting on FY23 results.