Mumbai, November 06, 2020 : Sonata Software, a global IT services and technology solutions company, today reported its unaudited financial results for its 2nd quarter and six months ended 30thSeptember, 2020.
Speaking on the results Mr. Srikar Reddy, Managing Director & CEO of the Company said:
These last two quarters have been unprecedented in the speed of evolution of events and the impact it has had on businesses globally. We as an organization have acted with great resilience and have strengthened systems and processes to operate effectively across all our business functions. As mentioned, our overall strategy of creating digital enterprises by creating platform through our unique PlatformationTM methodology is more relevant in the current context with more digitization and automation. The results this quarter reflect a successful response and execution of strategy aimed to grow with existing clients and add new clients. With a clear visibility in the immediate future, we are now focused on investing for long term growth in talent, IP and competency development.
Performance Highlights for the quarter:
- Consolidated:
Ø Revenues at Rs.803.8 Crores
Ø EBITDA at Rs. 89.7 Crores : growth of 10% QoQ
Ø PAT at Rs. 57.2 Crores : growth of 15% QoQ
Ø Cash and cash equivalents (net of borrowings)Rs. 508 Crores
- International IT Services:
Ø Revenues at Rs. 288.1 Crores; growth of 4% QoQ
Ø EBITDA at Rs.70.4 Crores : growth of 9% QoQ
Ø PAT at Rs. 43.6 Crores : growth of 14% QoQ
Ø Addition of 10 new customers
- Domestic Products & Services :
Ø Revenues at Rs. 523.5 Crores
Ø EBITDA at Rs. 19.6 Crores; growth of 16% QoQ
Ø PAT at Rs. 13.6 Crores : growth of 17% QoQ
About Sonata Software
Sonata is a global technology company, that enables successful platform based digital transformation initiatives for enterprises, to create businesses that are connected, open, intelligent and scalable. Sonata’s Platformation™ methodology brings together industry expertise, platform technology excellence, design thinking-led innovation and strategic engagement models to deliver sustained long term value to customers. A trusted partner of world leaders in the Retail, Manufacturing , Distribution, Travel, services and Software industries, Sonata’s solution portfolio includes its own digital platforms such as Brick & Click Retail Platform©, Modern Distribution Platform©, Rezopia Digital Travel Platform©, Kartopia E-commerce Platform© , Halosys enterprise development automation Platform©, and CTRM Commodity trading and risk management Platform©, kODO -AI powered customer experience(CX) Platform, Sonatas Platformation realization services have been specifically designed so that implementation of services on Microsoft Dynamics 365, Microsoft Azure, AWS, Cloud Engineering, Managed Services and as well as on new digital technologies like IoT, Artificial Intelligence, Machine Learning, Robotic Process Automation, Chatbots, Block Chain and Cyber Security, deliver to the Platformation promise. . Sonata’s people and systems are nurtured to bring together the depth of thought leadership, customer commitment and execution excellence to make a difference to business with technology.
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