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: |
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1. International IT Services includes results of Quant Systems Inc. w.e.f. 10th March 2023 being the date of completion of acquisition. |
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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
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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