Latent View Analytics soars 5% on strong December quarter earnings

Stocks

The firm reported a 123 percent year-on-year surge in net profit to Rs 49.9 crore for the quarter. Sequentially, the company more than doubled its bottomline.

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Stock Market Today:

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Shares of Latent View Analytics rose 4.8 percent to Rs 536.9 on the NSE on February 9 after the company reported strong earnings for the quarter ended December.

The firm reported a 123 percent year-on-year surge in net profit to Rs 49.9 crore for the quarter. Sequentially, the company more than doubled its bottomline.

Revenues jumped 37.7 percent on-year to Rs 107.8 crore aided by continued digitisation of operations by companies.

“This was driven by growth across existing clients and new client additions. We added 15 new clients over the last nine months ending December and 6 new clients in Q3FY22,” said Chief Executive Officer Raman Sethuraman.

Strong topline growth reflected at the operating level as operating profits jumped 19 percent on-year to Rs 32.2 crore in the December quarter. On a sequential basis, operating profit grew 22 percent.

Latent View’s operating margins suffered in the quarter much like other technology services companies as they shrank to 29.9 percent from 34.6 percent in the year-ago quarter. On a sequential basis, the margins expanded by 200 basis points.