Sonata Software Q2 net profit sees marginal increase

7 Nov 2024 , 10:25 AM

Sonata Software reported a 0.9% increase in net profit for the second quarter ended September 30, reaching ₹106.5 Crore from ₹105.6 Crore in the preceding quarter.

The company, which provides software and cloud services for digital transformation, reported a 14% dip in revenue to ₹2,169.8 Crore from ₹2,527.4 Crore in the June quarter.

In international markets, the company’s revenue increased to ₹707.9 Crore from ₹687.8 Crore in the previous quarter.

Sonata’s domestic business generated ₹1,461.9 Crore, up from ₹1,849.4 in the previous quarter.

The company aspires to generate $1.5 billion in revenue by fiscal 2025, with international EBITDA in the low 20s. Earnings before interest and tax (EBIT) increased by 1.1% to ₹144.3 Crore from ₹142.8 Crore in the previous quarter.

The company’s margin increased to 6.7%, from 5.7% in the previous quarter.

Speaking about the quarterly results, Mr Samir Dhir, MD & CEO of the Company, stated, “In Q2’25, our International business delivered 2.3% QoQ growth. During the quarter, we secured three significant projects, including our first multi-Million-dollar sale on Microsoft Fabric and a Gen AI modernisation with a Top 50 global Pharma client that used our “responsible first” distinctive Harmoni.AI solution. We remain positive about Sonata’s long-term vision and growth possibilities.

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