Sonata Software Q2 Review - Strong IT Services Growth: ICICI Direct
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ICICI Direct Report
Sonata Software (Sonata) offers IT services (30%) and product licensing & deployment (70%).
The company provides IT services to travel, retail, agri & commodities and manufacturing and software vendors
Net debt free and healthy double digit return ratio (with RoCE of >30%)
Q2FY22 Results: Sonata reported strong numbers in IT services, which largely compensate for a weak product business performance.
IT services dollar revenues increased 11% QoQ to $49.5 million
Overall Ebitda margin improved 482 bps QoQ to 12.8%
Overall PAT increased 5% QoQ to | Rs 91.2 crore led by a strong operating performance
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