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Sonata Software Q2 Review - Strong Evidence Of Execution In Platform, IP, Alliance Businesses: KRChoksey

Sonata Software Q2 Review - Strong Evidence Of Execution In Platform, IP, Alliance Businesses: KRChoksey

A driver uses the map navigation feature on a touchscreen control panel Software update in New York (Photographer Christopher Goodney/Bloomberg)
A driver uses the map navigation feature on a touchscreen control panel Software update in New York (Photographer Christopher Goodney/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

KRChoksey Research Report

Sonata Software Ltd.'s Q2 FY22 performance was lower than our estimate.

Dollar revenue was up materially by 11% QoQ to $49.4 million (our estimate: $48 million). Rupee revenue grew by ~20% YoY to Rs 9,632 million (our estimate: Rs 13,884 million).

Reported operating margin witnessed an sharp uptick of 438 basis points to 11.6% QoQ and reported net profit grew by 5.1% QoQ to Rs 912 million (our estimate: Rs 928 million) with margin of 9.5%, up 263 bps.

In-spite of a seasonally weak quarter (Q2 FY22), domestic business performed well on YoY basis.

International IT services witnessed a strong growth momentum backed by strong execution in platform, intellectual property and alliance led businesses.

Click on the attachment to read the full report:

KRChoksey Sonata Software Q2FY22 Result Update.pdf

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