IT Consulting & Software company Sonata Software announced Q1FY24 results: Consolidated Q1FY24: Revenues at Rs 2,015.5 crore; QoQ growth of 5% EBITDA at Rs 206.4 crore; QoQ growth of 17% PAT at Rs 120.1 crore; QoQ growth of 6% Net Cash and equivalents of approximately Rs 331 crore (net of borrowings). Consolidated DSO is at 41 days. Speaking on the quarterly results Samir Dhir, MD & CEO of the Company said, “We are excited to report yet another quarter of Industry-leading growth. Our International services Revenue in USD terms grew 17.5% QoQ. Consolidated PAT for Q1FY24 grew 6% QoQ. We crossed USD 300 million annual run rate for International Business in Q1FY24. We won our largest-ever multi-year Modernization deal in Europe with a Manufacturing client. Sonata is the only SI launch partner from India for Microsoft’s Fabric offering. We recently launched Harmoni.AI – a Responsible-first AI offering for Enterprise scale”. Speaking on the results Sujit Mohanty, MD & CEO of Sonata Information Technology said, “Our domestic products division had an outstanding quarter of financial performance. Our Gross Contribution grew by 6.4 % QoQ and 22% YoY. Our Q1 PAT grew by 3% QoQ and 26% YoY. To accelerate our business growth further, we have started focusing on large hybrid infrastructure System Integration & Management opportunities”. Result PDF
Conference Call with Sonata Software Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.