LatentView Analytics, the Chennai-based data analytics, consulting and solutions firm, reported a 32 per cent increase in net profit to ₹45 crore for the fourth quarter ended March 31, 2024, as against ₹34 crore in the corresponding quarter last year. Revenue was up 20 per cent to ₹172 crore (₹141 crore).
For fiscal ending March 31, 2024, the company reported a 2 per cent increase in net profit to ₹158 crore (₹155 crore) on 19 per cent growth in revenue to ₹640 crore (₹538 crore).
Rajan Sethuraman, Chief Executive Officer, LatentView Analytics, said, “FY24 was a year of building on the growth momentum and investing for sustaining growth in the future. Revenue for the full year grew despite uncertain macroeconomic indicators persisting for the majority of the fiscal.”
Rajan Venkatesan, Chief Financial Officer, LatentView Analytics, said the company’s investment strategy remains steadfast, encompassing both organic and inorganic avenues for growth. The recent acquisition of Decision Point Analytics will be partially funded through IPO proceeds and balance from the existing cash reserves.
As of March, 31, 2024, the cash and investments (excluding IPO proceeds) stood at ₹1,123 crore, says a release.
The company’s share price on the BSE closed at ₹473.55, down 1.69 per cent.