Shares of Latent View rallied over 8 per cent on Wednesday after the company clocked a 40 per cent jump in the consolidated net profits at Rs 31.4 crore in the April-June quarter.
The company reported a net profit of Rs 22.3 crore in the corresponding quarter of the previous fiscal.
The total revenue from operations rose 41.4 per cent YoY to Rs 129.7 crore against Rs 91.7 crore.
The total expenses saw a 37 per cent YoY rise to Rs 87.9 crore compared to Rs 63.1 crore in the corresponding quarter of the previous financial year.
Rajan Sethuraman, Chief Executive Officer,
, said, “Our Q1FY23 performance was in-line with our expectations, and we are happy to report revenue growth of 37% on a 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 partners, including two in financial services.
He added that the company continues to witness strong demand and revenue through a strategic roadmap consulting, which will multiply account conversion and growth. We brought a new head for Europe to increase our footprint in the region.
Following the update, the scrip touched its day’s high at Rs 389.7. The stock closed at Rs 381.55, 7.6 per cent above its previous close of Rs 354.4.
The company also launched a new supply chain proposition called ConnectedView. ConnectedView helps organizations establish a quick, consolidated overview of the status of all supply chain elements to dig deep to get granular details where required.
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