MUMBAI, 30 May, 2017 (GPN) : Sonata Software, an IT consulting and software services provider, today reported its audited financial results for the quarter and year ended March 31, 2017.
Speaking on the results Srikar Reddy, Managing Director & CEO of the Company said: “The sustained strong revenue growth ahead of the industry is a reflection of the significant investments we have made in the recent years on acquiring and building differentiated IP and Platforms for our focus industry verticals of Retail, Distribution,Travel and Software solutions. This has helped us to emerge as a preferred and strategic Platformation partner for our customers. We continue to invest on IP development and go-to-market initiatives with a stronger team as well as business development activities which has caused a slight dip in our profit after tax, the benefits of which is expected to yield in future.
We continue to focus on growth and investments despite difficult market conditions, as we believe that it is important to capture a strong position in the IT Solutions space by Digital transformation through Platformation. We believe this will help us to stay ahead in meeting the needs of the market and satisfying our customers.”
Performance Highlights for the quarter:
- Revenues for the quarter at Rs.708 crores : YoY growth of 31% for the quarter;
- EBIDTA for the quarter at Rs.61 Crores : YoY growth of 1% for the quarter;
- PAT for the quarter at Rs.40 Crores;
- EPS for the year of Rs.14.62 (Previous year: Rs.15.08);
- Cash and equivalents of approximately Rs.311 Crores (net of borrowings).
- International IT Services :
- Revenues for the quarter at Rs.204 crores : YoY growth of 8% for the quarter;
- EBIDTA for the quarter at Rs.48 Crores : YoY growth of 3% for the quarter;
- PAT for the quarter at Rs.32 Crores;
- Addition of 6 new customers for the quarter and 20 new customers for the year.
- Domestic Products& Services :
- Revenues for the quarter at Rs.512 crores : YoY growth of 44% for the quarter;
- EBIDTA for the quarter at Rs.14 Crores;
- PAT for the quarter at Rs.8 Crores;
About Sonata Software: Sonata Software is a global IT services firm focused on catalysing transformational IT initiatives of its clients through deep domain knowledge, technology expertise and customer commitment. The company delivers innovative new solutions for Travel, Retail & Consumer Goods and Software Product Companies by integrating technologies such as Omni-channel commerce, Mobility, Analytics, Cloud and ERP to drive enhanced customer engagement, operations efficiency and return on IT investments. 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 who want to make an impact on their businesses, with IT.ends