[Software] Sonata Software reports Rs 46 crore loss in Q3; revenue rises to Rs 2,493 crore

[Angel of Death]

Software and consulting firm Sonata Software Ltd reported a loss of Rs 46.2 crore in the December 2023 quarter against Rs 124.2 crore profit in the September 2023 quarter. However, Sonata Software reported a 30.4% rise in revenue to Rs 2,493.3 crore in the last quarter against Rs 1,912.6 crore revenue in the preceding quarter.The IT stock ended 1.11% lower at Rs 759.20 on BSE. Market cap of the firm fell to Rs 21,289.85 crore. Earnings of the firm were announced after market hours. Earnings before interest and tax surged 5.9% to Rs 174 crore in the last quarter against Rs 164.3 crore in the September 2023 quarter. The firm reported profit before tax of Rs 3.1 crore (negative) in Q3 against Rs 166.51 crore profit in the preceding quarter. EBITDA rose to Rs 227.2 crore in last quarter against Rs 220.5 crore in the September 2023 quarter. EPS came at Rs 1.66 (negative) in Q3 against Rs 4.48 in the September 2023 quarter.

In its investor presentation, the firm said it won 13 large deals on a YTD basis. 49 large deals were under pursuit and 45% of large deals pipeline were with Fortune 500 clients. Sujit Mohanty, MD & CEO of Sonata Information Technology Limited said, "We had one of our best quarter’s performances delivered in our Domestic Business during the quarter. Our Gross Contribution grew by 14.2 % QoQ and 25.8 % YoY. Our Q3 PAT grew by 17.4% YoY. We had fruitful engagements with our existing customers through targeted GTMs which helped us expand our business from our existing customer base." Sonata Software is a leading engineering company, powered by its unique Platformation framework that brings together industry expertise, platform technology excellence, design innovation and strategic engagement models to deliver sustained value to customers.

https://www.businesstoday.in/markets/company-stock/story/sonata-software-reports-rs-46-crore-loss-in-q3-revenue-rises-to-rs-2493-crore-415832-2024-02-01