IT consulting & software firm Sonata Software announced Q3FY23 results: Consolidated Q3FY23: Revenues at Rs 2,260.8 crore, growth of 51% QoQ. EBITDA at Rs 172.8 crore, growth of 4% QoQ. Net profit (PAT) at Rs 117.6 crore, growth of 4% QoQ. Cash and equivalents (net of borrowings) approximately Rs 585 crore. Consolidated DSO at 42 days. International IT Services Q3FY23: Revenues at Rs 489.6 crore; growth of 6.3% QoQ. Revenue in US$ at 60.5 million, QoQ revenue growth of 4.8% in US$ terms and YoY growth of 23.9%. EBITDA at Rs 123.2 crore: growth of 3.2% QoQ. Net profit (PAT) at Rs 81.3 crore, QoQ growth of 3.4%. Addition of 20 new customers during the quarter. Domestic Products & Services Q3FY23: Revenues at Rs 1,773.6 crore: growth of 70.5% QoQ. Domestic business measured on absolute gross contribution. Gross margin for the quarter at Rs 56.7 crore vs Rs 53.6 crore, growth of 5.8% QoQ. Domestic business major revenue contribution from multi-year annuity enterprise sale. EBITDA at Rs 51.7 crores: growth of 9.7% QoQ. Net profit (PAT) at Rs 36.3 crore QoQ growth of 6.5% Speaking on the results Mr. Samir Dhir, CEO of the Company said, "We are excited to report another quarter of strong financial performance, with industry leading QoQ revenue growth of 6.3% in Rs terms (4.8% in US$ terms) in the international business, and strong ROCE of 42% in the Domestic business. Our modernisation driven solutions enabled four large deal wins with Enterprise Clients in the quarter. Sonata was accorded "Microsoft Cloud Solution Provider" status in recognition of our engineering expertise in Cloud and Data modernisation. We received the coveted Golden Peacock Award for excellence in Corporate Governance." Speaking on the results Mr. Sujit Mohanty, MD & CEO of Sonata Information Technology Limited said, "Our domestic products and services division had an outstanding quarter significant increase in gross Contribution. We are seeing the positive results of our focus on multi-year annuity enterprise sales and will continue to prioritize enterprise clients in order to drive further growth." Result PDF
Conference Call with Sonata Software Management and Analysts on Q2FY23 Performance and Outlook. Listen to the full earnings transcript.