Sonata Software - International Revenue in $ grew by 8.6% QoQ, and Domestic Gross Contribution grew by 2.9% QoQ.

Sonata Software, a global IT services and technology solutions company, today reported its audited financial results for its 4^th quarter and year ended 31^st March 2023.

Notes:

1. International IT Services includes results of Quant Systems Inc. w.e.f. 10th March 2023 being the date of completion of acquisition.
2. The PAT number includes one-time acquisition cost (net of taxes) of ? 13 crores. The normalized PAT for Q4 2023 was ? 126.8 crores.

Speaking on the quarterly results Mr. Samir Dhir, MD & CEO of the Company said, "We are excited to report yet another quarter of Industry-leading growth. Our Rupee Revenue for Q4 FY'23 grew by 9% QoQ (8.6% in Dollar terms). Full-year rupee Revenue grew by 29%. (18.1 % in USD terms). Consolidated PAT for FY'23 grew by 20% YoY. Our modernization-driven solutions enabled three large deal wins, including our largest-ever deal win of $160M. In addition, we completed the acquisition of Quant Systems in the quarter to strengthen our recently announced incubating BFSI and Healthcare verticals."

Speaking on the results Mr. Sujit Mohanty, MD & CEO of Sonata Information Technology Limited said, "Our domestic products and services division had an outstanding year of financial performance. Our Gross Contribution grew by 2.9% QoQ and 29% YoY on full year basis. Our FY'23 PAT grew by 39% YoY. We are seeing the positive results of our focus on multi-year annuity enterprise sales and will continue to prioritize enterprise clients to drive further growth."

Performance Highlights for the quarter:                                                                                                                            

• Consolidated:
  • Revenues at ? 1,913.5 crores;
  • EBITDA at ? 176.7 crores; QoQ growth of 2%
  • PAT at ? 113.8 crores;
  • Net Cash and equivalents of approximately ? 451 Crores (net of borrowings).
• International IT Services:
  • Revenues at ? 533.5 crores; QoQ growth of 9%
  • Revenue in USD at 65.8 Million, Revenue growth of QoQ of 8.6% & YoY 18.1% in USD terms,
  • EBITDA at ? 123.5 crores;
  • PAT at ? 74.8 crores;
  • Addition of 17 new customers
  • International services DSO for FY 23 is 45 days.
  • Overall strategy of delivering outcome-based Modernization services using our Domain-Led and technology-based Modernization anchored by GTMs executed through Platformation^TM
  • Strong growth from digital based competencies like Managed cloud services and Digital Platformation^TM Services (Microsoft & Open source) and focused verticals like TMT, Healthcare & Life Sciences, Manufacturing, Retail / CPG/ TTH, BFSI and Emerging.
  • Bayer choses Sonata as top SI partner for its new Agri-Food Cloud solution. Sonata is now global partner for Sinequa.
  • Our pipeline continues to be healthy and strong through multiple new digital wins from existing and new customers.
• Domestic Products & Services :
  • Revenues at ? 1,383.4 crores;
  • EBITDA at ? 54 crores; QoQ growth of 4%
  • PAT at ? 39 crores; QoQ growth of 8%
  • DSO days for FY 23 is 37 days

About Sonata Software

For further information, please contact: 
Nandita Venkatesh 
Sonata Software Limited 
CIN- L72200MH1994PLC082110 
A.P.S. Trust Building, 
Bull Temple Road, N.R. Colony 
Bangalore 560004, India 
Tel: +91 80 67781996 
[email protected]

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