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Sonata Software - Consolidated Q2 FY21-22 PAT at Rs. 91.2 Crores

Posted On: 2021-10-19 17:41:16 (Time Zone: IST)

Sonata Software, a global IT Services and Technology Solutions Company, today reported its unaudited financial results for its 2nd quarter and six months ended 30th September, 2021.

Performance Highlights for the quarter - Consolidated:

  • Revenues at ₹ 963.2 crores; YoY growth of 20%
  • EBITDA at ₹ 136.6 crores; YoY growth of 52%
  • PAT at ₹ 91.2 crores; YoY growth of 59%
  • DSO days improved from 38 days to 35 days
  • Cash and equivalents of approximately ₹ 703 Crores (net of borrowings).

International IT Services:
  • Revenues at ₹ 360.8 crores; YoY growth of 25%
  • Revenue in USD at 49.4 Million, YoY revenue growth of 26.7% in USD terms
  • QoQ Growth across all geographies (USA 13.7%, Europe 7.3%, Rest of World 9.5%).
  • Strong Execution through Platformation™ led growth, IP led growth and Alliance led growth
  • Sonata's approach to Digitizing business using Platformation™
  • EBITDA at ₹ 103.5 crores; YoY growth of 47%
  • PAT at ₹ 67.3 crores; YoY growth of 54%
  • Addition of 8 new customers.
  • Strong cash and liquidity positions maintained. DSO is at 38 days.
  • Our pipeline continues to be healthy and strong through multiple new digital wins from existing and new customers.

Domestic Products & Services:
  • Revenues at ₹ 605.5 crores; YoY growth of 16%
  • DSO days improved from 39 days to 32 days
  • EBITDA at ₹ 33.7 crores; YoY growth of 72%
  • PAT at ₹ 23.9 crores; YoY growth of 76%

Speaking on the results Mr. Srikar Reddy, Managing Director & CEO of the Company said, Our overall strategy of building digital enterprises by creating platforms through our unique Platformation™ methodology has continued to drive our growth and differentiate ourselves. We continue to invest in creating a stronger organization with investments, in creating world class competencies aligned to Platformation™. World class competency development focus has been on digital services like platform engineering, cloud transformation, data analytics and Microsoft digital platform.

We see the demand situation across the board for digital services being very promising with growth in existing accounts and new deal pipeline. In view of super high demand for talent we are executing on a comprehensive talent plan for digital skills, including a range of initiatives on improving employee engagement and retention, creating capacity in advance and expanding our delivery centers with near shore delivery centers for US and Europe.

Our India business has continued to show robust growth with shift to cloud and digital infrastructure. The new acquisitions Encore and GBW show great promise for the future. With continued clear visibility and business opportunity, we stay focused now on investing for long term growth, in talent acquisition and transformation, IP, competency development and sales and marketing.

Shares of Sonata Software Limited was last trading in BSE at Rs. 966.80 as compared to the previous close of Rs. 926.00. The total number of shares traded during the day was 101188 in over 9342 trades.

The stock hit an intraday high of Rs. 1009.15 and intraday low of 928.10. The net turnover during the day was Rs. 98504576.00.

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