Conference Call with Sonata Software Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript.
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
Conference Call with Sonata Software Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.
IT Consulting & Software company Sonata Software announced Q2FY24 results: Consolidated Q2FY24: Revenues: Rs 1,912.6 crore; YoY growth of 28% EBITDA: Rs 220.5 crore; YoY growth of 33% PAT: Rs 124.2 crore; YoY growth of 10% Net Cash and equivalents of approximately Rs 267 crore (net of borrowings). DSO improved to 40 days (Q1FY24: 41 days). International IT Services: Revenues: Rs 670.0 crore; YoY growth of 46% Revenue in USD at USD 80.9 million, QoQ revenue growth of 4.6% & YoY growth of 40.0% in USD terms. EBITDA: Rs 165.0 crore; YoY growth of 38% PAT: Rs 83.7 crore; YoY growth of 7% DSO improved to 45 days (Q1FY24: 46 days) Four New customers were added during the quarter. Strategy focuses on delivering outcome-based Modernization services using Domain-Led and technology-based Modernization anchored by GTMs executed through PlatformationTM. Strong growth from digital-based competencies like Managed cloud services and digital platformationTM Services (Microsoft & Open source) and focused verticals like TMT, Healthcare & Life Sciences, Manufacturing, Retail / CPG/ TTH, BFSI, and Emerging. Healthy and strong pipeline with multiple new digital wins from existing and new customers. Domestic Products & Services: Revenues: Rs 1,244.0 crore; YoY growth of 20% Gross contribution: Rs 62.4 crore, grew by 16.5% YoY. EBITDA: Rs 56.4 crore; YoY growth of 20% PAT: Rs 40.5 crore; YoY growth of 19% DSO improved to 35 days (Q1FY24: 36 days) Speaking on the quarterly results Samir Dhir, MD & CEO of the Company said, “We are proud and excited to deliver yet another quarter of Industry-leading growth, despite the macro geopolitical issues, economic challenges, and slowdown in tech-spending. Our International services Revenue in USD terms grew 4.6% QoQ. Consolidated PAT for Q2FY24 grew 3.4% QoQ. We won our first multi-year AI-enabled business transformation large deal – powered by Sonata’s Harmoni.AI.” Speaking on the results Sujit Mohanty, MD & CEO of Sonata Information Technology said, "Our domestic products division delivered a good performance during this quarter. Our Gross Contribution grew by 1% QoQ and 16.5% YoY. Our Q2 PAT grew by 19% YoY. We successfully renewed all our large multiyear software contracts with our key customers. We will continue focusing on our Multi-Cloud Management offerings and System Integration business to drive future growth." Result PDF