Mumbai, Aug 11, 2014
Sonata Software, an IT consulting and software services provider, today reported its unaudited financial results for its 1stquarter ended June 30, 2014.
Speaking on the results Mr. Srikar Reddy, Managing Director & CEO of the Company said “We are happy to report another quarter of significant financial growth. More importantly, it reflects the fundamental strength of our strategy in terms of technologies, verticals and marketing which offer a differentiated value proposition for our customers. We are continuing to invest on all important aspects of our business and believe that they will lead to continued future growth."
Highlights for the quarter:
· Consolidated results:
Ø Revenues at `417 Crores -growth of 22% QoQ and 1% YoY;
Ø EBITDA at `44 Crores - growth of 26%QoQand 86% YoY;
Ø PAT is at `32 Crores- growth of 36%QoQ and 121% YoY;
Ø Cash reserves (net of borrowings) is`247Crores.
· International IT Services:
Ø Highest ever Revenues & PAT
Ø Revenue at `140 Crores - growth of 4%QoQ and 36% YoY;
Ø EBITDA of `35Crores- growth of 31%QoQ and 190% YoY;
Ø PAT of `26 Crores- growth of 43%QoQ and 219% YoY;
Ø 7 new customers added.
Ø Revenue of `284 Crores - growth of 37% QoQ;
Ø EBITDAof `9 Crores- growth of 9% QoQ;
Ø PATof `6Crores- growth of 13%QoQ.
About Sonata Software
Sonata Software is a global IT services company that focuses on enabling businesses win value with strategic IT initiatives. Sonata has deep technology expertise gained from multi-faceted relationships spanning Product Engineering, Professional Consulting Services, Early Adopter Programs, Implementation and Alliances status with leaders such as Microsoft, SAP, Oracle, IBM, HP, hybris, and TIBCO across Multi-Channel Commerce, ERP, CRM, Supply Chain Management, Analytics & Business Intelligence, Cloud, Social and Mobile technologies, enabling innovation, reliability and faster time to market in implementing the best IT solutions. Sonata leverages this expertise through a service line spanning Consulting, Application Development, Testing, Maintenance and Infrastructure Support, to deliver business critical outcomes across Customer Engagement & Growth, Enterprise Efficiency & Collaboration and strategic IT Cost Management needs for consumer facing enterprises in Travel, Retail and Consumer Goods industries. A unique delivery model built on dedicated customer specific Centers of Excellence, strong Governance and Value Co-creation, over decade plus relationships, underline the even deeper commitment Sonata seeks to bring to make a transformational impact on the clients critical business metrics. Sonata seeks to add differentiated value to leadership who want to drive strategic change with IT, for their businesses.
For further information, please contact:
Sonata Software Limited
A.P.S. Trust Building, Bull Temple Road, N.R. Colony, Bangalore 560019, India
Tel: +91 80 6778 1999. E-mail: email@example.com