Sonata Software – Consolidated Q3 FY19-20 PAT at Rs 76 Crores; 18% YoY growth

MUMBAI, 24th January, 2020 (GNI): Sonata Software, a global IT services and technology solutions company, today reported its unaudited financial results for its 3rd quarter ended and nine months ended 31st December 2019.

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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 on being  a digital transformation partner through our unique proprietary Platformation™ methodology and our strategy of IP led differentiation, focus on verticals like Retail, Distribution, Consumer Packaged Goods, Independent Software Vendors,Commodity and Service industries and  investment in new technologies.  We believe Platformation™ is now mainstream for Sonata as we continue to see increased traction in the market with addition of new marquee clients and strong pipeline”, stated in the press release.

Performance Highlights for the quarter:                                                                                                                      

·         Consolidated:

Ø  Revenues at Rs 1,237 Crores: growth of 76% QoQ;*

Ø  EBITDA at Rs 118 Crores:growth of 6% QoQ;

Ø  PAT at Rs 76 Crores :growth of 5% QoQ;

Ø  Net Cash and equivalents of approximately Rs 442 Crores .

·         International IT Services:

Ø  Revenues at Rs 330 Crores; growth of 6% QoQ;

Ø  EBITDA at Rs 92Crores :growth of 2% QoQ;

Ø  PAT at Rs 58Crores : growth of 3% QoQ;

Ø  Addition of 9 new customers.

·         Domestic Products&Services :

Ø  Revenues at Rs 912crores :growth of 129% QoQ; *

Ø  EBITDA at Rs 27Crores :growth of 20% QoQ;

Ø  PAT at Rs 18Crores :growth of 12% QoQ;

*The large increase in revenue is on account of a single large transaction in the domestic products & services business.

About Sonata Software: Sonata is a global technology company, that enables successful platform based digital transformation initiatives for enterprises, to create businesses that are connected, open, intelligent and scalable. Sonata’s Platformation™ methodology brings together industry expertise, platform technology excellence, design thinking-led innovation and strategic engagement models to deliver sustained long term value to customers. A trusted partner of world leaders in the Retail, Manufacturing & Distribution, Travel and Software industries, Sonata’s solution portfolio includes its own digital platform such as Brick & Click Retail Platform©, Modern Distribution Platform©, Rezopia Digital Travel Platform©, RAPID DevOps Platform©, Kartopia E-commerce Platform© , Halosys Mobility Platform©, and Commodity CTRM Platform©, best-in-class capabilities on ISV digital technology platforms such as Microsoft Dynamics 365, Microsoft Azure, SAP Hybris, Cloud Engineering and Managed Services, as well as new digital applications like IoT, Artificial Intelligence, Machine Learning, Robotic Process Automation, Chatbots, Block Chain and Cyber Security. Sonata’s people and systems are nurtured to bring together the depth of thought leadership, customer commitment and execution excellence to make a difference to business with technology.ends