MUMBAI, India, May 7, 2024 /PRNewswire/ -- Sonata Software (NSE:
SONATSOFTW) (BSE: 532221), a leader in Modernization Engineering,
today reported its audited financial results for its Financial Year
ended March 31, 2024.
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in
₹ Crores
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Description
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For the Quarter
ended
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For the year
ended
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31-Mar-24
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31-Dec-23
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QoQ
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31-Mar-23
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YoY
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31-Mar-24
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31-Mar-23
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YoY
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Revenues
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International IT
Services
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679.0
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696.8
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-3 %
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533.5
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27 %
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2,679.6
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1,920.4
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40 %
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Domestic- Products
& Services
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1,514.5
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1,800.3
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-16 %
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1,383.4
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9 %
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5,950.5
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5,540.4
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7 %
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Consolidated
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2,191.6
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2,493.4
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-12 %
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1,913.5
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15 %
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8,613.1
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7,449.1
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16 %
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EBITDA
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International IT
Services
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143.2
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168.5
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-15 %
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123.5
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16 %
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627.7
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482.0
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30 %
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Domestic- Products
& Services
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56.2
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59.2
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-5 %
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54.0
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4 %
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228.3
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196.8
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16 %
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Consolidated
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198.8
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227.2
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-12 %
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176.6
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13 %
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853.0
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675.0
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26 %
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PAT before
exceptional item
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International IT
Services
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70.3
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85.9
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-18 %
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74.8
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-6 %
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319.8
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310.7
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3 %
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Domestic- Products
& Services
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40.1
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42.6
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-6 %
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39.0
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3 %
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163.3
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141.2
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16 %
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Consolidated
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110.4
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128.5
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-14 %
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113.8
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-3 %
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483.2
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451.9
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7 %
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PAT after
exceptional item
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International IT
Services
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70.3
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(88.8)
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-
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74.8
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-
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145.1
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310.7
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-
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Domestic- Products
& Services
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40.1
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42.6
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-6 %
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39.0
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3 %
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163.3
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141.2
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16 %
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Consolidated
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110.4
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(46.2)
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-
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113.8
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-
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308.5
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451.9
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-
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Speaking on the quarterly results Mr. Samir Dhir, MD & CEO
of the Company said, "We remain optimistic about our long-term
vision and growth prospects. In FY24, our international business
delivered industry leading 34.3% growth YoY. During the Q4, large
deals decisioning delays & associated costs resulted in
sequential degrowth both in our international revenue USD terms by
2.4% QoQ, and consolidated PAT of 14.1% QoQ. Despite Q4 and
short-term headwinds, as we reflect on the year, we have taken
significant steps towards our long-term goals."
Speaking on the results Mr. Sujit
Mohanty, MD & CEO of Sonata Information Technology
Limited said, "Our PAT de-grew by 6% QoQ due to
seasonality; however, Annual PAT grew 16% over the previous year.
We had fruitful engagements with our existing customers through
targeted GTMs which helped us expand our business from our existing
customer base."
Performance Highlights for the Q4'24 &
FY'24:
- Consolidated:
- Revenues for Q4'24 at ₹ 2,191.6
crores; QoQ de-growth of 11.8%. Revenues for FY'24 at ₹
8,613.1 crores; YoY growth of
15.6%.
- EBITDA for Q4'24 is ₹ 198.8
crores; QoQ de-growth of 12.5%. EBITDA for FY'24 at ₹
853.0 crores; YoY growth of
26.4%.
- PAT for Q4'24 stood at ₹ 110.4
Crores; QoQ de-growth of 14.1%. PAT (before exceptional
items) for FY'24 stood at ₹ 483.2
Crores; YoY growth of 6.9%.
- Net Cash and equivalents of approximately ₹ 441.3 Crores (net of borrowings).
- International IT Services:
- Revenues for Q4'24 at ₹ 679.0
crores; QoQ de-growth of 2.6%. Revenues for FY'24 at ₹
2,679.6 crores; YoY growth of
39.5%.
- Revenue for Q4'24 in USD at 81.7 Mn, QoQ de-growth of 2.4%.
Revenue for FY'24 in USD at 323.6 Mn YoY growth of 34.3%.
- EBITDA for Q4'24 at ₹ 143.2
crores; QoQ de-growth of 15.2%. EBITDA for FY'24 at ₹
627.7 crores; YoY growth of
30.2%
- PAT for Q4'24 stood at ₹ 70.3
Crores; QoQ de-growth of 18.2%. PAT (before exceptional
items) for FY'24 stood at ₹ 319.8
Crores; YoY growth of 2.9%.
- DSO at 45 days (same as Q3'24)
- 18 New Customer added during the quarter.
- Strong growth from digital based competencies like Managed
cloud services and Digital Platformation™ Services (Microsoft
& Open source) and focused verticals like TMT, Healthcare &
Life Sciences, Manufacturing, Retail / CPG/ TTH, BFSI and
Emerging.
- Our pipeline continues to be healthy and strong through
multiple new digital wins from existing and new customers.
- Domestic Products &
Services:
- Revenues for Q4'24 at ₹ 1,514.5
crores; QoQ de-growth of 15.9%. Revenues for FY'24 at ₹
5950.5 crores; YoY growth of
7.4%
- Gross contribution for Q4'24 at ₹ 64.8 Crs de-grew by 9.1% QoQ.
Gross contribution for FY'24 at ₹ 260.4 Crs grew by 18.6% YoY
- EBITDA for Q4'24 at ₹ 56.2
crores; QoQ de-growth of 4.5%. EBITDA for FY'24 at ₹
228.3 crores; YoY growth of
16.0%
- PAT for Q4'24 at ₹ 40.1 crores;
QoQ de-growth of 5.9%. PAT for FY'24 at ₹ 163.3 crores; YoY growth of 15.7%.
- DSO at 36 days (same as Q3'24)
About Sonata Software
Sonata Software is a leading Modernization Engineering company,
powered by its unique Platformation™ framework that brings together
industry expertise, platform technology excellence, design
innovation and strategic engagement models to deliver sustained
value to customers. We partner with Fortune 500 clients to help
them reimagine their business processes as part of modernization
programs. As part of this phase, we drive business enablement
sessions, consulting, and business processes to be aligned with
best-in-class industry-specific practices. Our outcome-based
Modernization Services include Cloud, Data, Dynamics, Managed
Services, Automation and Digital Contact Center. We offer services
and solutions around newer technologies like Generative AI, MS
Fabric, and other modernization platforms. Sonata has a strong
global presence in key regions including US, UK, Europe, APAC, and ANZ. We are a trusted
partner of world leading companies in TMT, Retail & CPG.
Manufacturing, BFSI and HLS space. Our partner ecosystem boasts of
strong relationships with Microsoft, AWS, Salesforce, Snowflake,
Google, and Industry partners and is critical to the value we
create with our clients.
For more information, please visit
https://www.sonata-software.com/.
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