LatentView stories 11% decline in web revenue in Q3 FY24

LatentView Analytics, a Chennai-based knowledge analytics, consulting, and resolution firm, reported a 11 per cent decline in web revenue on 14 per cent progress in income in the course of the third quarter ended December 31, 2023.

The corporate that develops and deploys analytics options to its prospects reported a web revenue of ₹45 crore throughout Q3 FY24 in opposition to ₹52 crore in the identical interval final 12 months, whereas its income elevated to ₹168 crore (₹145 crore).

Worker profit expense throughout Q3 FY24 noticed a major improve to ₹111 crore (₹88 crore).

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Rajan Venkatesan, Chief Monetary Officer, LatentView Analytics, mentioned, “The decline in web revenue was primarily pushed by greater investments in capabilities groups, gross sales and advertising and in addition decrease revenue tax profit for the reason that tax vacation interval was over for the SEZ that the corporate operates out of.”

Rajan Sethuraman, Chief Government Officer, LatentView Analytics, mentioned it was the first-ever quarter to realize $20 million in income. In Q3 FY24, income progress was pushed by greater income from present purchasers.

The corporate’s inventory value on the NSE closed at ₹473.45, up by 4.53 per cent.