Sonata Software – Consolidated Q2 FY22-23 PAT at Rs. 112.7 Crores; 24% YoY growth, declares interim dividend of Rs. 7 per share
Sonata Software, a global IT services and technology solutions company, today reported its unaudited financial results for its 2nd quarter and six months ended 30th September 2022.
Speaking on the results, Samir Dhir, CEO of Sonata Software Ltd. said:
“The results for the quarter reflect strong growth in our business across our operating markets. We continue to create value for our clients by modernizing their mission-critical platforms. Our strong demand pipeline reflects our focus on large annuity deals. We continue to invest in building deep engineering capabilities to provide high-quality, differentiated outcomes for our clients and exciting career opportunities to our engineers globally. We have increased our nearshore delivery presence, most recently developing talent in Ireland, to reach best-in-class talent in every geography we service our clients.”
Speaking on the results, Sujit Mohanty, MD & CEO of the Sonata Information Technology Ltd. said:
“Our Indian business has continued to show robust growth with increasing percentage of cloud and digital infrastructure contracts. We continue to focus on multi cloud consulting and management, system integration and cloud security offerings to Indian customers.”
Performance Highlights for the quarter:
- Consolidated:
- Revenues at Rs. 1,496.0 crores; YoY growth of 55 %
- EBITDA at Rs. 165.7 crores; YoY growth of 21%
- PAT at Rs. 112.7 crores; YoY growth of 24%
- DSO days at 42 days
- Cash and equivalents of approximately Rs. 534 Crores (net of borrowings).
- International IT Services:
- Revenues at Rs. 460.4 crores; YoY growth of 28%
- Revenue in USD at 57.8 Million, YoY growth of 16.9% in USD terms, QoQ growth in USA of 3.0%.
- Strong Execution through “Platformation” led growth, IP led growth and Alliance led growth
- Sonata’s approach to Digitizing business using “ Platformation”
- EBITDA at 119.3 crores; YoY growth of 15%
- PAT at Rs. 78.6 crores; YoY growth of 17%
- Addition of 12 new customers.
- Strong cash and liquidity positions maintained. DSO at 46 days.
- Our pipeline continues to be healthy and strong through multiple new digital wins from existing and new
customers.
- Domestic Products & Services:
- Revenues at Rs. 1040.2 crores; YoY growth of 72%
- DSO days improved from 38 days to 37 days
- EBITDA at 47.1 crores; YoY growth of 40%
- PAT at Rs. 34.1 crores; YoY growth of 43%
About Sonata Software
Sonata is a global technology company, that enables successful platform based digital transformation initiatives for enterprises, to create businesses that are connected, open, intelligent and scalable. Sonata’s Platformation™ methodology brings together industry expertise, platform technology excellence, design thinking-led innovation and strategic engagement models to deliver sustained long term value to customers. A trusted partner of world leaders in the Retail, Manufacturing & Distribution, Travel and Software industries, Sonata’s solution portfolio includes its own digital platform such as Brick & Click Retail Platform©, Modern Distribution Platform©, Rezopia Digital Travel Platform©, RAPID DevOps Platform©, Kartopia E-commerce Platform© , Halosys Mobility Platform©, and Commodity CTRM Platform©, best-in-class capabilities on ISV digital technology platforms such as Microsoft Dynamics 365, Microsoft Azure, SAP Hybris, Cloud Engineering and Managed Services, as well as new digital applications like IoT, Artificial Intelligence, Machine Learning, Robotic Process Automation, Chatbots, Block Chain and Cyber Security. Sonata’s people and systems are nurtured to bring together the depth of thought leadership, customer commitment and execution excellence to make a difference to business with technology.
