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IT Consulting & Software company Sonata Software announced Q3FY24 results:

• Consolidated:

  • Revenues reached Rs 2,493.4 crore with a QoQ growth of 30%.
  • EBITDA amounted to Rs 227.2 crore, exhibiting a QoQ growth of 3%.
  • PAT before exceptional items stood at Rs 128.5 crore, reflecting a QoQ growth of 3%.
  • Net Cash and equivalents totaled approximately Rs 228 crore (net of borrowings).

• International IT Services:

  • Revenues achieved Rs 696.8 crore, demonstrating a QoQ growth of 4%.
  • Revenue in USD amounted to 83.7 million, with QoQ revenue growth of 3.5% and YoY growth of 38.3% in USD terms.
  • EBITDA reached Rs 168.5 crore, indicating a QoQ growth of 2%.
  • PAT before exceptional items stood at Rs 85.9 crore, reflecting a QoQ growth of 3%.
  • DSO at 45 days (Q2FY24: 45 days).
  • 13 New Customers were added during the quarter.
  • The overall strategy focuses on delivering outcome-based Modernization services using Domain-Led and technology-based Modernization anchored by GTMs executed through Platformation™.
  • Strong growth is seen in digital-based competencies such as Managed cloud services and Digital Platformation™ Services (Microsoft & Open source) and focused verticals like TMT, Healthcare & Life Sciences, Manufacturing, Retail / CPG/ TTH, BFSI, and Emerging.
  • The pipeline remains healthy and strong, marked by multiple new digital wins from existing and new customers.

• Domestic Products & Services:

  • Revenues reached Rs 18,00.3 crore, showing a QoQ growth of 45%.
  • Gross contribution at Rs 71.3 crore grew by 25.8% YoY.
  • EBITDA amounted to Rs 59.2 crore, demonstrating a QoQ growth of 5%.
  • PAT reached Rs 42.6 crore, indicating a QoQ growth of 5%.
  • DSO at 36 days (Q2FY24: 35 days).

Speaking on the results Sujit Mohanty, MD & CEO of Sonata Information Technology said, "We had one of our best quarter’s performances delivered in our Domestic Business during the quarter. Our Gross Contribution grew by 14.2 % QoQ and 25.8 % YoY. Our Q3 PAT grew by 17.4% YoY. We had fruitful engagements with our existing customers through targeted GTMs which helped us expand our business from our existing customer base."

Result PDF