Sonata Software Q3 PAT rises 7% QoQ to Rs 97.6 cr

The IT company posted a 7.1% rise in consolidated net profit to Rs 97.67 crore on a 93% rise in revenue from operations to Rs 1,858.02 crore in Q3 FY22 over Q2 FY22.

As compared to Q3 FY21, the IT firm's net profit surged 81.5% while revenue from operations in Q3 FY22 jumped 33%.

Consolidated profit before tax rose by 7.85% quarter on quarter and 30% year on year to Rs 129.59 crore in Q3 FY22. Consolidated EBITDA grew by 8% quarter on quarter and 29% year on year to Rs 146.9 crore in Q3 FY22.

Srikar Reddy, MD & CEO of the company said, The results are an affirmation that we continue to execute well on our goal of being a strategic partner for our clients in building world class digital enterprises through our unique Platformation methodology. Developing world class competencies in digital services like platform engineering, cloud transformation, data analytics and Microsoft digital platform and aligning them to Platformation has helped us win and execute enterprise class digital engagements. We see a continued uptick in the demand situation for digital services with growth in both existing accounts and in our new deal pipeline. In view of super high demand for digital talent we continue to execute on a comprehensive talent plan, comprising a range of initiatives on improving employee engagement and retention, creating capacity in advance, more focus on training and development, and expanding our delivery centres with near shore delivery centres for US and Europe.

He further said, Our India business has continued to show robust growth with shift to cloud and digital infrastructure. With continued clear visibility and business opportunity, we will continue to invest for growth, in talent acquisition and transformation, IP creation, competency, capability development and sales & marketing.

Shares of Sonata Software rose 0.5% to close at Rs 865.85 on Monday.

Sonata Software provides IT consulting, product engineering services, application development, application management, managed testing, business intelligence, infrastructure management, packaged applications, and travel solutions. The company derives most of its services revenue from overseas, with the US and Europe accounting for major shares of revenues.

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