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Latent View Analytics stock rises 11% on strong Q3 earnings

Latent View Analytics stock rises 11% on strong Q3 earnings

Latent View Analytics stock touched an intraday high of Rs 570.05, rising 11.45% against the previous close.

The stock has gained 3.41% in one week but lost 4.69% since the beginning of this year. The stock has gained 3.41% in one week but lost 4.69% since the beginning of this year.

Shares of Latent View Analytics rose over 11% today after the company reported stellar earnings for the quarter ended December. The stock opened 8.5% higher at Rs 555 against the previous close of Rs 511.50 on BSE. Later, it touched an intraday high of Rs 570.05, rising 11.45% against the previous close.

The share trades higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages. The stock has gained 3.41% in one week but lost 4.69% since the beginning of this year.

Total 1.35 lakh shares of the firm changed hands amounting to a turnover of Rs 7.24 crore on BSE.  Market cap of the firm rose to Rs 10,566 crore on BSE. The firm logged a 123 percent year-on-year rise in net profit to Rs 49.9 crore in Q3 against Rs 22.4 crore profit in the corresponding quarter of previous fiscal.

Revenues jumped 37.7 percent year-on-year to Rs 107.8 crore from Rs 78.2 crore, helped by continued difgitisation 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.

The firm clocked a strong topline growth at the operating level as operating profits rose 19 percent year-on-year to Rs 32.2 crore in the last quarter. On a sequential basis, operating profit grew 22 percent.

This is the first set of earnings after the firm's stock was listed on BSE and NSE last year. The company engaged in data analytics services made a stellar market debut on November 23, 2021. The stock listed at Rs 530 per share (up 169 per cent) on the Bombay Stock Exchange (BSE) against the IPO issue price of Rs 197. Price band of the IPO was fixed at Rs 190 to Rs 197 per share.

On NSE, the shares opened at Rs 512.20 per share, up 160 per cent. Market cap of the firm rose to more than Rs 10,000 crore. The share hit a fresh high of Rs 548.75 in early trade on NSE.