Sonata Software targets top slot, $500 million services revenue in 3-4 years
Sonata Software witnessed a 5.6 percent increase in net profit, reaching Rs 120.1 crore in the first quarter of this fiscal year compared to the previous quarter's Rs 113.7 crore. Additionally, the company's revenue also showed growth, rising by 5.3 percent to Rs 2,015.3 crore from the previous quarter. It also registered 2 large deal wins in the last quarter.
Sonata Software, a Bangalore-based IT services provider, is aiming to solidify its position as one of the top players in the industry while striving to achieve an impressive milestone of $500 million in IT services revenue within the next three-four years.
The company currently offers a wide range of services, including business intelligence and analytics, application development management, mobility, cloud, social media, testing, enterprise services, and infrastructure management services.
Sonata Software witnessed a 5.6 percent increase in net profit, touching Rs 120.1 crore in the first quarter of this fiscal year compared to the previous quarter's Rs 113.7 crore. Additionally, its revenue also showed a 5.3 percent rise to Rs 2,015.3 crore in the March-April quarter, as compared to the year-ago quarter. It also registered 2 large deal wins in the last quarter.
In an interview with CNBC-TV18, Samir Dhir, MD and CEO of Sonata Software, emphasised the company’s commitment to elevate its status in the competitive IT services sector. With a focus on enhancing its capabilities, expanding its market presence, and delivering exceptional solutions to clients, the company aims to secure a place among the top four players in the industry.
“Our expectation is that we will continue to be in the top quartile performance of the industry, and this is what we have been doing for the last 2-3 quarters. We expect to be among the top 3-4 players in the industry and keep delivering that,” said Dhir.
Dhir revealed an ambitious revenue target that reflects the company's confidence in its ability to achieve significant growth. Sonata Software aims to reach an impressive milestone of $500 million in IT services revenue within the next 3-4 years.
While talking about balancing growth and profitability, Dhir highlighted the company's goal to sustain a healthy EBITDA margin in the low-twenties range for its IT services business.
For more details, watch the accompanying video
(Edited by : C H Unnikrishnan)
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