Business
Sonata Software – Consolidated Q1 FY 22-23 PAT at Rs 107.8 Crores, YoY growth of 24%,
Announces one bonus share for every three equity shares held
July 25, 2022 : Sonata Software, a global IT services and technology solutions company, today reported its unaudited financial results for its 1st quarter ended 30th June 2022.
P Srikar Reddy
Speaking on the results Srikar Reddy, Managing Director of the Company said: “We continue to execute well on our goal of being a strategic partner for our clients in building world class digital enterprises through our unique ‘Platformation’ methodology. We see the demand situation for digital services being stable with growth in both existing accounts and new deal pipeline.
Talent management continues to be a major focus. A comprehensive talent plan, comprising of several initiatives like employee training and development, engagement, and retention, building in advance capacity for future growth and upgrading of existing talent capabilities.
Our India business has continued to show robust growth with greater focus on cloud and digital infrastructure.
The management team has been strengthened with the addition Roshan Shetty as Chief Revenue Officer, Balaji Kumar as Chief Human Resource Officer and Hemant Kumar Bhardwaj as Chief Marketing Officer. This senior global leadership team led by Samir Dhir is now poised to steer Sonata to greater success.
The board in its meeting today also approved issue of one bonus share for every three equity shares held subject to all statutory and stakeholder approvals.”
Performance Highlights for the quarter:
- Consolidated:
- Revenues at Rs 1778.9 crores; YoY growth of 40%
- EBITDA at Rs 159.8 crores; YoY growth of 24%
- PAT at Rs 107.8 crores; YoY growth of 24%
- DSO days is at 40 days.
- Cash and equivalents of approximately Rs 508.2 Crores (net of borrowings).
- International IT Services:
- Revenues at Rs 436.8 crores; YoY growth of 35%
- Revenue in USD at 56.8 Million, YoY revenue growth of 27.7% in USD terms
- Sonata’s approach to Digitizing business using “Platformation”
- EBITDA at Rs 116.1 crores; YoY growth of 20%
- PAT at Rs 76 crores; YoY growth of 19%
- Addition of 10 new customers.
- Strong cash and liquidity positions maintained. DSO is at 41 days.
- Our pipeline continues to be healthy and strong through multiple new digital wins from existing and new
customers.
- Domestic Products & Services:
- Revenues at Rs 1343.1 crores; YoY growth of 42%
- DSO days at 38 days.
- EBITDA at Rs 44.0 crores; YoY growth of 36%
- PAT at Rs 31.8 crores; YoY growth of 38%