Data and analytics emerges as key enabler to firms for staying relevant: LatentView

Chennai, Jan 25 (PTI) Data and analytics is emerging as a key enabler to enterprises to stay relevant and be ahead of competition, a top official of digital analytics consulting and solutions firm LatentView said on Wednesday.

The company reported a profit after tax (PAT) at Rs 524.73 million for the quarter ending December 31, 2022 compared to Rs 499.25 million registered in the same period last year.

Consolidated total income went up to Rs 1,674.50 million from Rs 1,130.66 million last year.

The PAT includes exceptional item of Rs 226.2 million. The PAT for Q3 FY 2023 includes forex gain of Rs 68.08 million vis-a-vis forex loss of Rs 10.15 million in Q2 of FY2023.

"We are satisfied to see 10 per cent growth in revenue for this quarter, which is in line with our expectations. It indicates our investments in building capabilities as well as assets and accelerators are paying off," said chief executive officer of LatentView Analytics Ltd Rajan Sethuraman.

"Data and analytics is emerging as a key enabler for enterprises to stay relevant and ahead of the competition. We are making the right investments in capability-building and domain expertise that will help us add value for our clients," he said.

He noted that there is a strong demand for data engineering and consulting services with technology, industrial and financial services continuing to drive growth.

"Going ahead, we will actively look at new opportunities that will add to our capabilities," he said.

On the financial performance, chief financial officer of the firm Rajan Venkatesan said,"Q3 continues to remain a seasonally strong quarter for us. Our cash and investments excluding proceeds from the IPO as of December 31, 2022 stood at Rs 7,729 million.

"We are well positioned for the future, driven by our verticalised approach, value propositions based on gaps identified in the market and dedication to strengthening our teams across the board," Venkatesan said.

LatentView has globally distributed employee base of over 1,050 and has presence in six countries. PTI VIJ NVG NVG