MUMBAI, August 07, 2019 (GNI): Sonata Software, a global technology solutions company, today reported its unaudited financial results for its first quarter ended June 30, 2019.
Speaking on the results Mr. Srikar Reddy, Managing Director & CEO of the Company said:
“The continued growth in revenues and profits have been the result of our focus of being a digital transformation partner through our unique proprietary Platformation methodology and our strategy of IP led differentiation , focus on verticals like Retail, Distribution, CPG, ISVS and new technologies .
The acquisitions we made last quarter, Sopris and Scalable are showing promise and we believe will strengthen our alliance story.”
Performance Highlights for the quarter: Consolidated: Revenues at Rs. 874.6 Crores : growth of 5% QoQ;EBIDTA at Rs. 106.4 Crores : growth of 10% QoQ; PAT at Rs. 67.1 Crores : growth of 3% QoQ; Cash and equivalents of approximately Rs. 398 Crores (net of borrowings).
International IT Services: Revenues at Rs. 304.5 crores;EBIDTA at Rs. 84.4 Crores : growth of 11% QoQ; PATat Rs. 53.4 Crores : growth of 2% QoQ; Addition of 7 new customers.
Domestic Products & Services : Revenues at Rs. 574.1 crores : growth of 7% QoQ; EBIDTA at Rs. 22.4 Crores : growth of 5% QoQ; PAT at Rs. 13.7 Crores : growth of 6% QoQ;
About Sonata Software is a global IT solutions firm focused on catalysing business transformation initiatives of its clients through deep domain knowledge, technology expertise and customer commitment. The company delivers strategic technology solutions for Travel, Retail & Distribution and Software Product companies to drive enhanced customer engagement, operations efficiency and return on IT investments. Sonata brings its own proprietary platforms, products and services in digital technology areas such as Omni-channel commerce, Mobility, Analytics, Cloud and ERP to enable speed and reliability of IT led innovation. A trusted long-term service provider to Fortune 500 companies across both the software product development and enterprise business segments, Sonata seeks to add differentiated value to leadership to those who want to make an impact on their businesses, with IT.ends