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Sonata Software Reports 10% QoQ PAT Growth, Declares ₹1.25 per Share Dividend

by kaushal

Sonata Software Q2 FY24 Results: 10% PAT Growth & Dividend Declaration

Sonata Software Limited reported a 10% quarter-on-quarter (QoQ) growth in consolidated Profit After Tax (PAT) for Q2 FY24, reaching ₹130.4 crore. The company also declared a second interim dividend of ₹1.25 per share, reinforcing its shareholder-friendly approach.

Financial Performance Highlights

Key Metrics (Q2 FY24 vs. Q1 FY24)

  • Consolidated PAT: ₹130.4 crore (up 10% QoQ from ₹118.5 crore)
  • Revenue from Operations: ₹2,186 crore (vs. ₹2,150 crore in Q1 FY24)
  • YoY PAT Growth: 8% despite macroeconomic challenges

The growth was driven by strong demand in digital transformation, cloud solutions, and enterprise software.

Dividend Announcement: Key Details

  • Second interim dividend: ₹1.25 per share (total FY24 dividend now ₹1.85 per share)
  • Record Date: November 10, 2023
  • Payment Date: On or before November 30, 2023

Shareholders holding shares in electronic form will receive the payout directly.

Growth Drivers for Sonata Software

1. Digital Transformation & Cloud Services

  • High demand for Microsoft Dynamics, SAP, and Oracle solutions.
  • Enterprises accelerating cloud adoption.

2. Global Expansion

  • Increased deals in BFSI and retail sectors across North America and Europe.

3. Strategic Acquisitions

  • The Quant Systems acquisition (2022) enhanced AI and data analytics capabilities.

Management’s Perspective

Mr. Samir Dhir, MD & CEO, stated:

“Our Q2 results reflect resilience and strategic execution. The dividend declaration underscores our commitment to shareholders.”

The company is investing in AI-driven automation and next-gen cloud solutions for sustained growth.

Market & Analyst Reactions

  • Stock Performance: 2.5% surge post-announcement.
  • Brokerage Views: ICICI Securities and Motilal Oswal maintain ‘Buy’ ratings.

Challenges & Risks

  • Global IT spending slowdown due to recessionary fears.
  • Talent retention and wage inflation pressures.
  • Currency fluctuations affecting overseas revenue.

Conclusion: A Strong Mid-Tier IT Performer

With consistent PAT growth, dividends, and a focus on high-margin services, Sonata Software remains a solid pick for long-term investors. Stay updated on financial news via NextMinuteNews.

Disclaimer: This is not investment advice. Consult a financial expert before investing.

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