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  • Sonata Software - International Revenue in $ grew by 8.6% QoQ, and Domestic Gross Contribution grew by 2.9% QoQ.
    Sonata Software - International Revenue in $ grew by 8.6% QoQ, and Domestic Gross Contribution grew by 2.9% QoQ.
    Consolidated FY'23 PAT grew by 20% YoY. Delivered Q4'2023 PAT of ₹ 113.8 cr (Normalized PAT after one time M&A expenses of ₹ 126.8 cr). The Board recommends a final dividend of ₹ 8.75 per share (FY'23 dividend ₹ 15.75 per share). BANGALORE, India, May 15, 2023 /PRNewswire/ -- Sonata Software, a global IT services and technology solutions company, today reported its audited financial results for it...
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Sonata Software - International Revenue in $ grew by 8.6% QoQ, and Domestic Gross Contribution grew by 2.9% QoQ.

May 15, 2023 - 20:10 By PRNEWSWIRE

Consolidated FY'23 PAT grew by 20% YoY. Delivered Q4'2023 PAT of ₹ 113.8 cr (Normalized PAT after one time M&A expenses of ₹ 126.8 cr). The Board recommends a final dividend of ₹ 8.75 per share (FY'23 dividend ₹ 15.75 per share).

BANGALORE, India, May 15, 2023 /PRNewswire/ -- Sonata Software, a global IT services and technology solutions company, today reported its audited financial results for its 4th quarter and year ended 31st March 2023.

 














in ₹ Crores

Description

    For the Quarter ended 

  For the Year ended 


31-Mar-23

31-Dec-22

QoQ

31-Mar-22

YoY

31-Mar-23

31-Mar-22

YoY

Revenues















International IT Services

533.5

489.6

9 %

413.9

29 %

1,920.4

1,493.8

29 %

Domestic- Products & Services  

1,383.4

1,773.6

-22 %

1,051.0

32 %

5,540.0

4,066.9

36 %

Consolidated

1,913.5

2,260.8

-15 %

1,463.6

31 %

7,449.1

5,553.4

34 %

















EBITDA















International IT Services

123.5

123.2

0 %

113.8

9 %

482.0

425.0

13 %

Domestic- Products & Services

54.0

51.7

4 %

39.5

37 %

196.8

142.4

38 %

Consolidated

176.7

172.8

2 %

153.1

15 %

675.0

565.7

19 %

















PAT















International IT Services 1

74.8

81.3

-8 %

72.4

3 %

310.7

274.5

13 %

Domestic- Products & Services 

39.0

36.3

8 %

28.5

37 %

141.2

101.8

39 %

Consolidated 2

113.8

117.6

-3 %

100.9

13 %

451.9

376.4

20 %

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 PlatformationTM
    • Strong growth from digital based competencies like Managed cloud services and Digital PlatformationTM 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 
nandita.v@sonata-software.com

 

 

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