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|
|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 %|
|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 %|
|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 %|
|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:
- 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
For further information, please contact:
Sonata Software Limited
A.P.S. Trust Building,
Bull Temple Road, N.R. Colony
Bangalore 560004, India
Tel: +91 80 67781996
SOURCE Sonata Software