BENGALURU, India, July 31,
2024 /PRNewswire/ -- Sonata Software (NSE:
SONATSOFTW), (BSE: 532221), a leader in Modernization Engineering,
today reported its unaudited financial results for its Quarter
ended June 30, 2024.
|
|
|
|
|
in
₹ Crores
|
Description
|
For the Quarter
ended
|
|
30-Jun-24
|
31-Mar-24
|
QoQ
|
30-Jun-23
|
YoY
|
Revenues
|
|
|
|
|
|
International IT
Services
|
687.8
|
679.0
|
1 %
|
633.8
|
9 %
|
Domestic- Products
& Services
|
1,849.4
|
1,514.5
|
22 %
|
1,391.8
|
33 %
|
Consolidated
|
2,527.4
|
2,191.6
|
15 %
|
2,015.5
|
25 %
|
|
|
|
|
|
|
EBITDA#
|
|
|
|
|
|
International IT
Services
|
128.8
|
117.6
|
9 %
|
133.5
|
-3 %
|
Domestic- Products
& Services
|
47.3
|
26.5
|
79 %
|
44.8
|
6 %
|
Consolidated
|
176.2
|
144.1
|
22 %
|
178.2
|
-1 %
|
|
|
|
|
|
|
PAT
|
|
|
|
|
|
International IT
Services
|
65.1
|
70.3
|
-7 %
|
79.9
|
-18 %
|
Domestic- Products
& Services
|
40.5
|
40.1
|
1 %
|
40.2
|
1 %
|
Consolidated
|
105.6
|
110.4
|
-4 %
|
120.1
|
-12 %
|
|
|
|
|
|
|
#EBITDA
(before other income)
*Includes one-time
expense for bad debts
|
Speaking on the quarterly results Mr. Samir Dhir, MD & CEO of the Company said,
"In Q1 25, our international business delivered 1.3% QoQ
growth. We won three large deals during the quarter, including a
healthcare deal. Our "responsible first"
differentiated Harmoni.AI offering is enabling growth for
Sonata resulting in new logo wins within the quarter. We
remain optimistic about our long-term vision and growth
prospects."
Speaking on the results Mr. Sujit
Mohanty, MD & CEO of Sonata Information Technology
Limited said, "We continue to make progress and renewed multiple
existing client contracts with enhanced contract values, despite
industry head winds in ITeS sector. Our consistent focus on SI
business is enabling us to deliver better Gross Contribution
YoY."
Performance Highlights for the
Q1'25:
- Consolidated:
- Revenues for Q1'25 at ₹ 2,527.4
crores; QoQ growth of 15.3%.
- EBITDA for Q1'25 is ₹ 176.2
crores; QoQ growth of 22.2%.
- PAT for Q1'25 stood at ₹ 105.6
Crores; QoQ de-growth of 4.3%.
- Net Cash and equivalents of approximately ₹ 122.9 Crores (net of borrowings).
- International IT Services:
- Revenues for Q1'25 at ₹ 687.8
crores; QoQ growth of 1.3%.
- Revenue for Q1'25 in USD at 82.7 Mn, QoQ growth of 1.3% and YoY
growth of 6.9%.
- EBITDA for Q1'25 at ₹ 128.8
crores; QoQ growth of 9.5%.
- PAT for Q1'25 stood at ₹ 65.1
Crores; QoQ de-growth of 7.3%.
- DSO at 45 days (same as Q4'24)
- 14 New Customer added during the quarter.
- Growth from verticals like MS Sell to, HLS and BFSI.
- Our pipeline continues to be healthy with multiple
modernization deals both from existing and new customers.
- Domestic Products & Services:
- Revenues for Q1'25 at ₹ 1,849.4
crores; QoQ growth of 22.1%.
- Gross contribution for Q1'25 at ₹ 68.5 Crs; QoQ growth of
5.8%.
- EBITDA for Q1'25 at ₹ 47.3
crores; QoQ growth of 78.7%.
- PAT for Q1'25 at ₹ 40.5 crores;
QoQ growth of 0.9%.
- DSO at 35 days (Q4'24 at 36 days)
About Sonata Software
In today's market, there is a unique duality in technology
adoption. On one side, extreme focus on cost containment by
clients, and on the other, deep motivation to modernize their
Digital storefronts to attract more consumers and B2B
customers.
As a leading Modernization Engineering company, we aim to
deliver modernization-driven hypergrowth for our clients based on
the deep differentiation we have created in Modernization
Engineering, powered by our Lightening suite and 16-step
Platformation™ playbook. In addition, we bring agility and systems
thinking to accelerate time to market for our clients.
Headquartered in Bengaluru, India, Sonata has a strong global presence,
including key regions US, UK, Europe, APAC, and ANZ. We are a trusted
partner of world-leading companies in TMT (Telecom, Media, and
Technology), Retail & CPG, Manufacturing, BFSI (Banking,
Financial Services and Insurance), and HLS (Healthcare and
Lifesciences) space. Our bouquet of Modernization Engineering
Services cuts across Cloud, Data, Dynamics, Contact Centers, and
around newer technologies like Generative AI, MS Fabric, and other
modernization platforms.
For more information, please visit
https://www.sonata-software.com/
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SOURCE Sonata Software