Sonata Software, a globalITservices and technology solutions company, today reported its unaudited financial results for its 1^stquarter ended 30^thJune 2020.

Speaking on the results Mr. Srikar Reddy, Managing Director & CEO of the Company said:

“These last few months have been unprecedented in the speed of evolution of events and the impact it has had on businesses globally. Our immediate focus was obviously to ensure the employee safety and organise ourselves to deliver services remotely globally with work from home measures implemented effectively. We have been able to move 100% of our work force to work remotely/ from home and been able to create and implement processes to deliver different kinds of services to our clients extremely effectively.

As mentioned last quarter our overall strategy of creating digital enterprises by creating platform through our unique Platformation^TMmethodology is more relevant in the new normal with more digitisation, automation and contactless operations.  The results this quarter bear fruit of a successful response and execution of the above strategies with results better than forecasted.  We are also glad to report that the acquisitions we made last year Sopris and Scalable have created opportunities in industries like utilities and commodity and Agri based businesses. GBW our latest acquisition in the customer experience space (CX) is another large emerging opportunity in the digital transformation space. We believe this augurs well for growth in the next few quarters.” 

Performance Highlights for the quarter:

• Consolidated:
  

Ø  Revenues at ₹952.4crores;QoQ growth of 3%

Ø  EBITDA at ₹81.2crores;

Ø  PAT at ₹49.9crores;

Ø  Cash and equivalents of approximately ₹399Crores (net of borrowings).

• International IT Services:
  

Ø  Revenues at ₹275.8 crores;

Ø  EBITDA at₹64.7crores;

Ø  PAT at ₹38.3crores;

Ø  Addition of 6 new customers.

• Domestic Products& Services:
  

Ø  Revenuesat ₹681.3crores;QoQ growth of 12%

Ø  EBITDA at₹16.9 crores;

Ø  PAT at ₹11.6 crores. ENDS

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