Sonata Software Q2 Review - IT Services Growth To Accelerate, Margin Outlook Cautious: Anand Rathi
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Anand Rathi Report
Sonata Software Ltd. delivered IT Services revenue of $49.4 million, up 5.2% QoQ (organic est.), 20% YoY, recovering from a soft Q1.
Net hiring (incl. Encore) was 592 while utilisation went back to 89% as pandemic-related challenges subside.
The company sees demand in retail CPG and travel verticals ahead and is hiring in greater numbers. The domestic business ($83 million, up 17% YoY) was slower than in the last four quarters (average 27%).
Encore was integrated for two months in Q2.
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