Mumbai 08 August 2016: Sonata Software, a global IT services and technology solutions company, today reported its unaudited financial results for its 1st quarter ended June 30, 2016.
Speaking on the results, Mr. Srikar Reddy, Managing Director & CEO of the Company said “The quarter saw good top line performance across business divisions. This is a result of our execution of our IP led strategy of being a digital transformation partner across all our verticals and focus on digital technologies. The M&A done in the past have helped us attain a differentiated position as a partner for digital platforms. Another highlight was that two of our industry specific solutions for retail and distribution have become available on Microsoft’s AppSource that is an exciting emerging model for cloud based enterprise solutions”.
Performance Highlights for the quarter:
Ø Revenues at Rs.678 Crores : growth of 41% YoY;
Ø EBIDTA at Rs.58 Crores : growth of 4% YoY;
Ø PAT at Rs.37 Crores : decline of 4% YoY;
Ø Cash and equivalents of approximately Rs.201 Crores (net of borrowings).
· International IT Services:
Ø Revenues at Rs.196 crores : growth of 18% YoY;
Ø EBIDTA at Rs.44 Crores : growth of 3% YoY;
Ø PAT at Rs.28 Crores : decline of 6% YoY;
Ø Addition of 6 new customers.
Ø Showcased retail products including Brick & Click and other solutions for retailers at “ReTechCon” event held in Mumbai, India.
Ø Two solutions have been made available on Microsoft’s AppSource on cloud viz., “Advanced Supply Chain Software” for Dynamics Ax and “Brick & Click Retail Solution”.
· Domestic Products & Services :
Ø Revenues at Rs.489 Crores : growth of 53% YoY;
Ø EBIDTA at Rs.15 Crores : growth of 6% YoY;
Ø PAT at Rs.9 Crores : growth of 5% YoY;
Ø Received award: “2016 Microsoft Country Partner of the year for India”, for demonstrating excellence in innovation and implementation of customer solutions based on Microsoft technology.
About Sonata Software
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.