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 its 4th quarter and year ended 31st March 2023.

in ₹ Crores
Description    For the Quarter ended   For the Year ended 
International IT Services533.5489.69 %413.929 %1,920.41,493.829 %
Domestic- Products & Services  1,383.41,773.6-22 %1,051.032 %5,540.04,066.936 %
Consolidated1,913.52,260.8-15 %1,463.631 %7,449.15,553.434 %
International IT Services123.5123.20 %113.89 %482.0425.013 %
Domestic- Products & Services54.051.74 %39.537 %196.8142.438 %
Consolidated176.7172.82 %153.115 %675.0565.719 %
International IT Services 174.881.3-8 %72.43 %310.7274.513 %
Domestic- Products & Services 39.036.38 %28.537 %141.2101.839 %
Consolidated 2113.8117.6-3 %100.913 %451.9376.420 %
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 
[email protected]


SOURCE Sonata Software

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