Sonata Software - IT Services Revenues To Improve In Coming Quarters: ICICI Direct
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ICICI Direct Report
Sonata Software Ltd. provides IT services (30%) to travel, retail, agri and commodities, manufacturing and software vendors and offers product licensing and deployment (70%).
Key takeaways of recent quarter and conference call highlights-
IT service segment dollar revenues increased 1.5% QoQ to $44.5 million (our estimate 324 crore).
IT service core Ebitda margin (excluding other income) declined 115 basis points QoQ to 21.3%.
Domestic revenues increased 24.3% QoQ to Rs 946.2 crore but Ebitda margin declined 75 bps QoQ to 3.4%.
Hence, overall revenues increased 17.5% QoQ to Rs 1,268.5 crore and Ebitda margin declined 162 bps QoQ to 8%.
Sonata Software has hired leadership for digital tech, head of Australia and 12 sales guys onsite, which will help drive growth
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