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Source: cision | Published on: Tuesday, 07 May 2024
MUMBAI, India, May 7, 2024 -- 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.
in ₹ Crores | |||||||||||||||||
Description | For the Quarter ended | For the year ended | |||||||||||||||
31-Mar-24 | 31-Dec-23 | QoQ | 31-Mar-23 | YoY | 31-Mar-24 | 31-Mar-23 | YoY | ||||||||||
Revenues | |||||||||||||||||
International IT Services | 679.0 | 696.8 | -3 % | 533.5 | 27 % | 2,679.6 | 1,920.4 | 40 % | |||||||||
Domestic- Products & Services | 1,514.5 | 1,800.3 | -16 % | 1,383.4 | 9 % | 5,950.5 | 5,540.4 | 7 % | |||||||||
Consolidated | 2,191.6 | 2,493.4 | -12 % | 1,913.5 | 15 % | 8,613.1 | 7,449.1 | 16 % | |||||||||
EBITDA | |||||||||||||||||
International IT Services | 143.2 | 168.5 | -15 % | 123.5 | 16 % | 627.7 | 482.0 | 30 % | |||||||||
Domestic- Products & Services | 56.2 | 59.2 | -5 % | 54.0 | 4 % | 228.3 | 196.8 | 16 % | |||||||||
Consolidated | 198.8 | 227.2 | -12 % | 176.6 | 13 % | 853.0 | 675.0 | 26 % | |||||||||
PAT before exceptional item | |||||||||||||||||
International IT Services | 70.3 | 85.9 | -18 % | 74.8 | -6 % | 319.8 | 310.7 | 3 % | |||||||||
Domestic- Products & Services | 40.1 | 42.6 | -6 % | 39.0 | 3 % | 163.3 | 141.2 | 16 % | |||||||||
Consolidated | 110.4 | 128.5 | -14 % | 113.8 | -3 % | 483.2 | 451.9 | 7 % | |||||||||
PAT after exceptional item | |||||||||||||||||
International IT Services | 70.3 | (88.8) | - | 74.8 | - | 145.1 | 310.7 | - | |||||||||
Domestic- Products & Services | 40.1 | 42.6 | -6 % | 39.0 | 3 % | 163.3 | 141.2 | 16 % | |||||||||
Consolidated | 110.4 | (46.2) | - | 113.8 | - | 308.5 | 451.9 | - | |||||||||
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:
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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