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 



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