LATENTVIEW · Information Technology
Latent View Analytics Ltd. reported revenue of ₹236 cr for April to June 2025, +31.8% on the year and +1.7% on the quarter. It is the highest quarterly revenue in the last 9 quarters on record. Over the last four quarters revenue comes to ₹905 cr, +34.5% on the four before.
Operating profit (EBITDA) was ₹50.0 cr, a margin of 21.2%, −4 bps on the year and −252 bps on the quarter. Over the last 8 quarters the margin has ranged from 19.9% to 23.7%, averaging 21.9%. Operating costs grew +31.9%, broadly with revenue, so operating profit kept pace with sales.
Net profit was ₹51.0 cr, +30.8% on the year and 0.0% on the quarter, with earnings per share of ₹2.46. Profit before other income, one-offs and tax grew 11.4%, so 19 points of the headline growth came from outside the core business. The tax rate was 18% against an average of 22% over the previous 8 quarters, which lifted profit this quarter. Profit over the last four quarters totals ₹186 cr, +12.7% on the four before.
On earnings per share of ₹9.02 over the last four quarters, the stock at ₹243.39 trades at 27.0 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
Headline profit grew much faster than core profit. What made up the difference?
Reported profit +30.8% on the year; profit before other income, exceptional items and tax +11.4%.
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹156 cr | ₹166 cr | ₹172 cr | ₹179 cr | ₹209 cr | ₹228 cr | ₹232 cr | ₹236 cr | ₹258 cr | ₹278 cr | ₹289 cr | ₹287 cr |
| YoY | — | — | — | +21% | +34% | +37% | +35% | +32% | +23% | +22% | +25% | +22% |
| EBITDA margin | 19.9% | 22.3% | 23.3% | 21.2% | 21.5% | 21.9% | 23.7% | 21.2% | 21.7% | 22.3% | 23.5% | 19.9% |
| Other income, % of PBT | 38% | 40% | 30% | 33% | 40% | 27% | 34% | 37% | 31% | 27% | 23% | 32% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 24% | 18% | 15% | 25% | 30% | 24% | 18% | 18% | 26% | 24% | 22% | 28% |
| Net profit | ₹34.0 cr | ₹47.0 cr | ₹45.0 cr | ₹39.0 cr | ₹41.0 cr | ₹43.0 cr | ₹51.0 cr | ₹51.0 cr | ₹46.0 cr | ₹51.0 cr | ₹55.0 cr | ₹47.0 cr |
| YoY | — | — | — | +18% | +21% | −9% | +13% | +31% | +12% | +19% | +8% | −8% |
| Core profit YoY | — | — | — | +40% | +25% | +21% | +11% | +11% | +23% | +20% | +34% | +13% |
| EPS | ₹1.66 | ₹2.26 | ₹2.20 | ₹1.89 | ₹1.94 | ₹2.03 | ₹2.59 | ₹2.46 | ₹2.15 | ₹2.42 | ₹2.55 | ₹2.33 |
| Flags | 1 | 1 | 1 | ✓ | ✓ | ✓ | ✓ | 1 | ✓ | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Latent View Analytics Ltd. reported revenue of ₹236 cr (+31.8% on the year) and net profit of ₹51.0 cr (+30.8% on the year) for April to June 2025.
Profit before other income, exceptional items and tax moved +11.4% on the year, against +30.8% for reported profit.
1 check raised a question: Headline profit grew much faster than core profit. What made up the difference?
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