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 /CNW/ -- Sonata Software, a global IT services and technology solutions company, today reported its audited financial results for its 4^th quarter and year ended 31^st 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:
1. International IT Services includes results of Quant Systems Inc. w.e.f. 10th March 2023 being the date of completion of acquisition. 2. The PAT number includes one-time acquisition cost (net of taxes) of ₹ 13 crores. The normalized PAT for Q4 2023 was ₹ 126.8 crores.

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 Platformation^TM
• Strong growth from digital based competencies like Managed cloud services and Digital Platformation^TM 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

About Sonata Software

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: [phone] 
[email protected]

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SOURCE Sonata Software