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Sonata Consolidated FY10 Net Profit at Rs. 79.87 Cr Up by 4% YoY Final Dividend Recommended 80% - Leading Indian software solutions company, Sonata Software Ltd. today reported its audited financial results for the quarter and the financial year ended 31st March
Sonata Consolidated FY10 Net Profit at Rs. 79.87 Cr Up by 4% YoY Final Dividend Recommended 80%

 

PRZOOM - /newswire/ - Bangalore, Karnataka, India, 2010/04/20 - Leading Indian software solutions company, Sonata Software Ltd. today reported its audited financial results for the quarter and the financial year ended 31st March.

   
 
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Highlights:
Sonata Software Ltd – Consolidated

• Revenue for the year at Rs. 1380.44 Cr (Rs. 1591.17 Cr)
• EBIDTA for the year at Rs. 171.09 Cr (Rs. 162.79 Cr) up 5% YoY
• Net profit for the year at Rs. 79.87 Cr ( Rs. 76.57 Cr) up 4% YoY
• Earnings per share for the year at Rs. 7.60 ( Rs. 7.28 ) up 4% YoY
• RONW & ROCE for the year at 26% ( RONW 30% & ROCE 31%)
• Consolidated Cash Reserves : Rs. 107.54 Cr ( Rs. 85.24 Cr)

Sonata Software Ltd – Stand Alone
• Revenue for the year at Rs. 236.09 Cr (Rs. 243.58 Cr)
• EBIDTA for the year at Rs. 69.48 Cr (Rs. 65.06 Cr) up 7% YoY
• Net profit for the year at Rs. 60.20 Cr (Rs. 53.36) up 13% YoY
• Earnings per share for the year at Rs. 5.72 (Rs. 5.07) up 13% YoY
• RONW and ROCE for the year at 23% (25%)
• Cash from operations for the year Rs. 42.81 Cr (Rs. 56.33 Cr)
• A final dividend of Re.0.80 per share (80% on face value of Re.1/-) has been recommended at the Board Meeting, subject to the approval of the shareholders. This along with the interim dividend of Re.0.90 per share raises the total dividend for the year to Rs.1.70 per share ( Total dividend Rs. 1.50 per share).
* Previous year’s figures are shown in brackets.

Management Comments:
Commenting on the results, Mr. B. Ramaswamy, President and Managing Director, Sonata Software Limited said, “Our results reflect our relentless focus on adding value to our customers through innovation. This, along with our continuous endeavour in enhancing our solutions through technology and domain skills, has helped us in sustaining growth in a difficult year.”

Significant Projects:
Sonata is helping a large car rental company in the Middle East revamp their existing Car Rental Management System, to achieve better fleet optimization and operational efficiency. Sonata is re-designing the Car Rental Management System on a web platform using Microsoft technology. This web based solution will help the company meet their current business needs of engaging customers and tour operators effectively.

For a premier real estate and project management company, Sonata has successfully implemented SonnetCONSTRUCT, its solution framework for the construction and real estate industry. Built on Microsoft Dynamics AX 4.0, SonnetCONSTRUCT has enabled the successful implementation of ERP at the organisation, helping it to streamline its business processes. The implementation has also helped in the integration of the organization’s core activities; improving productivity and enhancing inter departmental communication and synchronization.

For a multinational IT enabled and Business Process Outsourcing (BPO) company specializing in integrated BPO solutions across Customer Lifecycle and Back-office Lifecycle Management services, Sonata is providing end-to-end testing services for their software products and applications. These products help the customer in enhancing their service delivery efficiency and serve as a value-add to their clients. The engagement involves deploying test consultants, best practices and IP’s to ensure that the products are rigorously tested and have faster time to market.

For a large global pharmaceutical major, Sonata is setting up independent centralized testing services to provide functional, security and performance testing for all their applications to improve quality of deliverables, reduce production outages and reduce cost of quality. These services covers gamut of web and business applications cutting across business entities.

Sonata is assisting a leading provider of asset finance origination, specializing in portfolio management software and solutions in the US to enhance the functionalities of one of their prime applications. The product enhancements will enable the customer to address the business requirements of the asset financing organizations quickly and stay abreast of the market requirements.

About Sonata Software Limited

Sonata Software, headquartered in Bangalore, India, is a leading IT consulting and services company. Sonata's customers are located across the US, Europe, Middle East and the Asia-Pacific region. Its portfolio of services includes IT Consulting, Product Engineering Services, Travel Solutions, Application Development, Application Management, Managed Testing, Business Intelligence, Infrastructure Management and Packaged Applications. As per the industry rankings released by NASSCOM for FY08-09, Sonata Software figured among the Top 20 IT Software and Service Exporters in India. Sonata Software has also been ranked global #2 in the 2008 Top Ten ESO: Outsourced Software Development in The Black Book of Outsourcing.

Sonata’s subsidiaries include (1) TUI InfoTec – Sonata’s Joint Venture with TUI, Europe’s largest tourism group, (2) Sonata Software North America (formerly Offshore Digital Services Inc) -- Sonata’s arm in the US, which provides development and consulting services to clients, using an onsite-offshore delivery model, (3) Sonata Software FZ LLC – Sonata’s fully-owned subsidiary that provides value-based IT solutions to customers in the Middle East and (4) Sonata Information Technology Limited which is premier software services and product distribution company with India-focused business operations.

 
 
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Sonata Consolidated FY10 Net Profit at Rs. 79.87 Cr Up by 4% YoY Final Dividend Recommended 80%

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Contact: Anushree Kumar - Sonata-Software.com 
+91 80 26610330 info[.]sonata-software.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Sonata Software Ltd securities in any jurisdiction including any other companies listed or named in this release.

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