Sonata Software Reports Financial Results for FY’24; Declares Final Dividend

Sonata Software Reports Financial Results for FY'24; Declares Final DividendSonata Software Ltd Logo (PRNewsfoto/Sonata Software)

VoM News Desk | May 8, 2024 | 10:44 AM IST | Breaking News | Follow on Google News

Sonata Software Reports Financial Results for FY’24; Declares Final Dividend

Sonata Software Reports Financial Results for FY’24; Declares Final Dividend

Sonata Software (NSE: SONATSOFTW) (BSE: 532221), a leader in Modernization Engineering, has announced its audited financial results for the Financial Year ended March 31, 2024. The company reported a 18.6% YoY growth in domestic business gross contribution for FY’24, totaling 260.4 Cr. Additionally, the Board recommended a final dividend of Rs 4.40 per share, bringing the total dividend for FY’24 to Rs 7.90 per share.

Commenting on the results, Mr. Samir Dhir, MD & CEO of the Company, expressed optimism about the long-term vision and growth prospects. He highlighted the industry-leading 34.3% YoY growth in international business for FY’24, despite facing short-term challenges in Q4. Mr. Sujit Mohanty, MD & CEO of Sonata Information Technology Limited, mentioned fruitful engagements with existing customers, contributing to annual PAT growth of 16% over the previous year.

Performance Highlights for Q4’24 & FY’24 include:

• Consolidated Revenues for Q4’24 at Rs 2,191.6 crores, with QoQ de-growth of 11.8%. Revenues for FY’24 at Rs 8,613.1 crores, marking a YoY growth of 15.6%.
• EBITDA for Q4’24 at Rs 198.8 crores, with QoQ de-growth of 12.5%. EBITDA for FY’24 at Rs 853.0 crores, reflecting a YoY growth of 26.4%.
• PAT for Q4’24 stood at Rs 110.4 Crores, with QoQ de-growth of 14.1%. PAT (before exceptional items) for FY’24 stood at Rs 483.2 Crores, showing a YoY growth of 6.9%.

Sonata’s international IT services witnessed revenues for Q4’24 at Rs 679.0 crores, with QoQ de-growth of 2.6%. Revenues for FY’24 at Rs 2,679.6 crores, indicating a YoY growth of 39.5%. The company’s pipeline remains healthy with multiple new digital wins from existing and new customers.

On the other hand, domestic products & services reported revenues for Q4’24 at Rs 1,514.5 crores, with QoQ de-growth of 15.9%. Revenues for FY’24 at Rs 5950.5 crores, reflecting a YoY growth of 7.4%. Gross contribution for FY’24 stood at Rs 260.4 Crs, showing a YoY growth of 18.6%.

About Sonata Software:
Sonata Software is a leading Modernization Engineering company, leveraging its Platformation™ framework to deliver sustained value to customers. The company offers outcome-based Modernization Services, including Cloud, Data, Dynamics, Managed Services, Automation, and Digital Contact Center. With a strong global presence, Sonata partners with Fortune 500 clients in various sectors, driving business enablement and innovation.

For more information, visit https://www.sonata-software.com/.

[ADVERTORIAL DISCLAIMER: The above press release has been provided by PRNewswire. ANI will not be responsible in any way for the content of the same]

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.