Conference Call with Sonata Software Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.
IT Consulting & Software company Sonata Software announced consolidated Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenues: Rs 2,191.6 crore; QoQ de-growth of 11.8%. EBITDA: Rs 198.8 crore; QoQ de-growth of 12.5%. PAT: Rs 110.4 crore; QoQ de-growth of 14.1%. FY24 Financial Highlights: Revenues: Rs 8,613.1 crore; YoY growth of 15.6%. EBITDA: Rs 853.0 crore; YoY growth of 26.4%. PAT (before exceptional items): Rs 483.2 crore; YoY growth of 6.9%. Net Cash and equivalents: Approximately Rs 441.3 crore (net of borrowings). Speaking on the quarterly results Samir Dhir, MD & CEO of the Company said, “We remain optimistic about our long-term vision and growth prospects. In FY24, our international business delivered industry leading 34.3% growth YoY. During the Q4, large deals decisioning delays & associated costs resulted in sequential degrowth both in our international revenue USD terms by 2.4% QoQ, and consolidated PAT of 14.1% QoQ. Despite Q4 and shortterm headwinds, as we reflect on the year, we have taken significant steps towards our long-term goals.” Speaking on the results Sujit Mohanty, MD & CEO of Sonata Information Technology Limited said, “Our PAT de-grew by 6% QoQ due to seasonality; however, Annual PAT grew 16% over the previous year. 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 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