Leading IT Consulting and Services company, Sonata Software Ltd. today reported its audited financial results for the quarter and for the year ended March 31, 2012.
(Rs. in million except earnings per share)
- Revenue atRs. 2253.7
- EBIDTA atRs. 310.6
- Net profitat Rs.149.1
- Earningsper share at Rs. 1.42
- Cash Reserve Rs. 843.2
- Revenue atRs. 156.8
- EBIDTA atRs. 498
- Net Loss atRs. 25.9
- CashReserve Rs. 1437.4
Quarter 4 2011-12
- Revenue atRs. 524.2
- Net lossat Rs. 30.2
- Revenue atRs. 3168.1
- Net Loss at Rs. 136.5
The above results do show a drop in performance. The adverse results are mainly due to restructuring cost provisions that we have had to make in our Joint venture, TUI Infotec Gmbh coupled with excess capacity in anticipation of revenue growth and a challenging foreign exchange environment in the International services business. In the domestic business segment, realigning our product portfolio and an adverse tax and regulatory environment surrounding this business has contributed to the drop in margins.
The Company has made significant progress in addressing the above issue and is poised for a sustainable performance in 2013.
Consolidated Revenue, EBIDTA and PAT are after elimination of inter-company transactions.
Consolidated includes Sonata Software Limited, Sonata Information Technology Limited, TUI InfoTec GmbH, Sonata Software North America Inc. ( Formerly known as Offshore Digital Services Inc.), Sonata Software GmbH, Sonata Europe Limited, Sonata Software FZ LLC and Sonata Software Qatar LLC.
International IT Services comprises of Sonata Software Limited, Sonata Software North America Inc. ( Formerly known as Offshore Digital Services Inc.), Sonata Software GmbH, Sonata Europe Limited, Sonata Software FZ LLC and Sonata Software Qatar LLC.
Consolidated PAT is after minority interest.
Intercompany revenues between International IT Services and TUI InfoTec GmbH (Joint Venture) have been adjusted
Translation loss / gain on account of Consolidation of TUI InfoTec GmbH (Joint Venture) are adjusted in TUI InfoTec GmbH (Joint Venture).
Sonata is working with a multinational pharmaceutical company to develop their new Warehouse Management System. This would be rolled out at four of their major distribution centers.
A large Government organization has awarded Sonata a 3 year Infrastructure Management Services contract to provide services for their commands across 4 locations. Sonata will manage the client’s Data Center operations around the areas of Unified Domain, Windows Administration, Unified Communication, Exchange mailing solution, Active Directory and Online Monitoring applications. The solution will enable effective sharing of information between departments, optimized cost and system downtime, and centralized management of domains for better control.
A leading provider of information security and compliance solutions has engaged Sonata to develop their flagship compliance solution on Microsoft .Net. Sonata will set up their Offshore Development Centre (ODC) that will architect & develop the client’s next generation platforms as well as sustain their existing platform. Sonata’s expertise in Product Engineering and Microsoft technologies will help the client achieve quick time-to-market, increased product quality, and reduced product development costs.
Sonata has been engaged by a market leading provider of banking software systems to maintain their global centralized Procurement System on Oracle Applications, iProc. Sonata had earlier deployed iProc across 80 of the customers’ business locations globally.