Sonata Software Q4 results: Net profit down 3.3% at ₹113.8 crore. Revenue dips 15.4%

Compared to previous quarter, Sonata Software Limited reported consolidated revenue of ₹1,913.5 crore, which is around 15.4 per cent lower from its revenue of ₹2,260.8 crore in third quarter of the financial year 2022-23.

The IT company posted correction in EBITDA on sequential basis as well. As per the Q4 results declared by Sonata Software Limited, the IT company has reported 7 per cent dip in its EBITDA at ₹ ₹132.7 crore, which stood at ₹142.7 crore in the previous quarter.

However, the Indian tech major has reported improvement in margin during January to March 2023 quarter. On sequential basis, Sonata Software Limited reported margins at 6.9 per cent in fourth quarter of the recently ended financial year that stood at 6.3 per cent in Q3FY23.

Speaking on Q4 results of Sonata Software, Samir Dhir, MD & CEO at Sonata Software said, ““We are excited to report yet another quarter of Industry-leading growth. Our Rupee Revenue for Q4 FY’23 grew by 9% QoQ (8.6% in Dollar terms). Full-year rupee Revenue grew by 29%. (18.1 % in USD terms). Consolidated PAT for FY’23 grew by 20% YoY. Our modernization-driven solutions enabled three large deal wins, including our largest-ever deal win of $160M. In addition, we completed the acquisition of Quant Systems in the quarter to strengthen our recently announced incubating BFSI and Healthcare verticals.”

Sujit Mohanty, MD & CEO of Sonata Information Technology Limited said, ““Our domestic products and services division had an outstanding year of financial performance. Our Gross Contribution grew by 2.9% QoQ and 29% YoY on full year basis. Our FY’23 PAT grew by 39% YoY. We are seeing the positive results of our focus on multi-year annuity enterprise sales and will continue to prioritize enterprise clients to drive further growth.”

Sonata Software share price ended at ₹875 apiece on NSE on the weekend trade session i.e. on Friday.