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IT Consulting & Software company Sonata Software announced consolidated Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Revenues: Rs 2,191.6 crore; QoQ de-growth of 11.8%.
- EBITDA: Rs 198.8 crore; QoQ de-growth of 12.5%.
- PAT: Rs 110.4 crore; QoQ de-growth of 14.1%.
FY24 Financial Highlights:
- Revenues: Rs 8,613.1 crore; YoY growth of 15.6%.
- EBITDA: Rs 853.0 crore; YoY growth of 26.4%.
- PAT (before exceptional items): Rs 483.2 crore; YoY growth of 6.9%.
- Net Cash and equivalents: Approximately Rs 441.3 crore (net of borrowings).
Speaking on the quarterly results 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 shortterm headwinds, as we reflect on the year, we have taken significant steps towards our long-term goals.”
Speaking on the results 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."
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