Sonata Software Ltd. — Interim / Quarterly Report 2019

Nov 2, 2018

2nd November, 2018

National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Mumbai Kind Attn: Manager, Listing Department Email Id: neaps@nse.co.in Stock Code - SONATSOFTW

BSE Limited P.J. Towers, Dalal Street Mumbai Kind Attn: Manager, Listing Department Email Id: listing.centre@bseindia.com Stock Code - 532221

Dear Sir/Madam,

Sub: Outcome of Board Meeting

Ref: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

This is to inform you that the Board of Directors at its meeting held today i.e. 2nd November, 2018 inter-alia has:-

• a) Adopted Unaudited Financial Results of the Company for quarter and half year ended 30th September, 2018.
• b) Declared Interim Dividend at Rs. 4.75 per share (475% on par value of Re.1/-). Interim Dividend will be paid to the registered shareholders on or after 16th November, 2018 through Electronic mode or by dividend warrants, as applicable.

The meeting of the Board of Directors of the Company commenced at 12.45 p.m. and concluded at 3.00 p.m.

Kindly take the same on record.

Thanking you,

Yours faithfully For Sonata Software Limited

Digitally signed by KUNDAN K LAL Date: 2018.11.02 15:05:19 +05'30'

Kundan K. Lal Company Secretary and Compliance Officer

Chartered Accountants Prestige Trade Tower, Level 19 46, Palace Road, High Grounds Bengaluru - 560 001 Karnataka, India

Tel: +91 80 6188 6000 Fax: +91 80 6188 6011

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF SONATA SOFTWARE LIMITED

1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of SONATA SOFTWARE LIMITED ("the Company"), for the Quarter and Six months ended September 30, 2018 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Requlations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016.

This Statement which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review.

• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and, accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as stated above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For DELOITTE HASKINS & SELLS LLP Chartered Accountants (Firm's Registration No. 117366W/W-100018)

kas Bagaria

Partner (Membership No. 60408)

MUMBAI, November 02, 2018

SONATA SOFTWARE LIMITED

Registered Office: 208, T.V. Industrial Estate, S.K. Ahire Marg, Worli, Mumbai - 400 030

Corporate Office: 1/4, A.P.S Trust Building, Bull Temple Road, N.R. Colony, Bangalore - 560 019

CIN - L72200MH1994PLC082110

www.sonata-software.com, Tel: +91-080-67781999 Fax: +91-080-26601387, investor@sonata-software.com

Part I

Part I					₹ in lakhs, except per share data
	Statement of unaudited standalone financial results for the quarter and six months ended September 30, 2018
			Quarter ended			Six months ended
SI No.	Particulars	September 30,2018	June 30,2018	September 30,2017	September 30,2018	September 30,2017	March 31,2018
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
$\mathbf{1}$	Revenue from operations	20,583	19,245	17,916	39,828	32,860	68,851
$\overline{2}$	Other income	1,287	452	1,238	1,739	2,402	4,196
3	Total Revenue (1 + 2)	21,870	19,697	19,154	41,567	35,262	73,047
4	Expenses
	(a) Purchases of Stock-in-Trade	1,073	1,312
	(b) Employee benefits expense	10,405	9,205	1,5019,413	2,385	2,134	4,494
	(c) Finance costs	5	$\mathbf{1}$	14	19,6106	17,88314	36,41217
	(d) Depreciation and amortization expense	156	136	125	292	230	500
	(e) Other expenses	3,847	3,305	2,872	7,152	5,869	11,848
	Total expenses	15,486	13,959	13,925	29,445	26,130	53,271
5	Profit before exceptional items and tax (3 - 4)	6,384	5,738	5,229	12,122	9,132	19,776
6	Exceptional item
	- Interest income on income tax refund		49		49	49	49
$\overline{7}$	Profit before tax $(5 + 6)$	6,384	5,787	5,229	12,171	9,181	19,825
8	Tax expense
	(1) Current tax
	(2) Deferred tax	1,819(39)	1,691(197)	1,318	3,510	2,302	4,959
9	Profit for the period (7 - 8)	4,604	4,293	(22)3,933	(236)	(32)	(262)
					8,897	6,911	15,128
10	Other comprehensive income
	1 (a) Items that will not be reclassified to profit or loss	76	142	(70)	218	(109)	(70)
	(b) Income tax relating to items that will not be reclassified
	to profit or loss	(21)	(36)	17	(57)	27	17
	2 Items that will be reclassified to profit/(loss)(a) Exchange differences in translating the financial statements
	of foreign operations	198	(104)	112	94	162	238
	(b) Exchange differences on forward cover	(1, 578)	(532)	(42)	(2, 110)	(193)	(635)
	(c) Income tax relating to Items that will be
	reclassified to profit/(loss)	388	163	(17)	551	8	97
	Total	(937)	(367)	$\overline{a}$	(1, 304)	(105)	(353)
11	Total Comprehensive Income for the period (9 + 10)	3,667	3,926	3,933	7,593	6,806	14,775
12	Paid-up equity share capital (Face Value ₹1/-)	1,038	1,038	1,037	1,038	1,037	1,038
13	Other equity	48,105	48,105	45,779	48,105
14	Earnings per equity share (of ₹1/-each):					45,779	48,105
	(a) Basic	4.43	4.14	3.79	8.57	6.66	14.57
	(b) Diluted	4.43	4.13	3.79	8.56	6.67	14.56
	See accompanying notes to the financial results

SONATA SOFTWARE LIMITED

Registered Office: 208, T.V. Industrial Estate, S.K. Ahire Marg, Worli, Mumbai - 400 030 Corporate Office: 1/4, A.P.S Trust Building, Bull Temple Road, N.R. Colony, Bangalore - 560 019

CIN-L72200MH1994PLC082110

www.sonata-software.com, Tel: +91-080-67781999 Fax: +91-080-26601387, investor@sonata-software.com

Part II			$(5 \in \mathsf{In} , \mathsf{labels})$
	Balance Sheet
SI No.	Particulars	As atSeptember 30, 2018	As atMarch 31, 2018
	ASSETS
$1,$	NON-CURRENT ASSETS
	(a) Property, Plant and Equipment	1,801	1,757
	(b) Capital work-in-progress	23	27
	(c) Goodwill	282	282
	(d) Financial assets
	(i) Investments	9,739	9,617
	(ii) Other Financial Assets	1,386	1,236
	(e) Deferred tax assets (net)	1,786	1,056
	(f) Other non-current assets	2,151	2,936
		17,168	16,911
$\overline{2}$	CURRENT ASSETS
	(a) Financial assets
	(i) Investments
	(ii) Trade receivables	6,478	10,295
		23,986	18,483
	(iii) Cash and cash equivalents	12,928	11,627
	(iv) Bank balances other than (iii) above	1,160	939
	(v) Other Financial Assets	1,404	2,146
	(b) Other current assets	901	512
		46,857	44,002
	TOTAL - ASSETS	64,025	60,913
	EQUITY AND LIABILITIES
3	EQUITY
	(a) Equity Share capital	1,038	1,038
	(b) Other equity	47,343	48,105
		48,381	49,143
	LIABILITIES
4	NON-CURRENT LIABILITIES
	(a) Other non-current liabilities	808	772
		808	772
5	CURRENT LIABILITIES
	(a) Financial liabilities
	(i) Trade payables	6,644	5,772
	(ii) Other financial liabilities	2,829	516
	(b) Other current liabilities	1,153	1,310
	(c) Provisions	1,124	990
	(d) Current tax liabilities (net)	3,086	2,410
		14,836	10,998
	TOTAL - EQUITY AND LIABILITIES	64,025	60.913

Notes to unaudited standalone financial results for the quarter and six months ended September 30, 2018:

These quaterly and six months ended unaudited standalone financial results prepared in accordance with Indian Accounting Standards applicable as per Sec 133 of the Companies Act, 2013 have $\ensuremath{\mathsf{1}}$ been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on November 2, 2018.

$\overline{2}$ Based on the financial performance of the Company, the Board at its meeting held today, approved an interim dividend of ₹4.75 /- per share.

The Company publishes unaudited standalone financial results along with unaudited consolidated financial results. In accordance with Ind AS 108 Operating Segments, the Company has disclosed 3 the segment information in the unaudited consolidated financial results.

Place: Mumbai Date: November 2, 2018

FOR AND ON BEHALFOF THE BOARD OF DIRECTORS P SRIKAR REDDY THEF EXECUTIVE OFFICER

Chartered Accountants Prestige Trade Tower, Level 19 46, Palace Road, High Grounds Bengaluru - 560 001 Karnataka, India

Tel: +91 80 6188 6000 Fax: +91 80 6188 6011

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF SONATA SOFTWARE LIMITED

1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of SONATA SOFTWARE LIMITED ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), for the Quarter and Six months ended September 30, 2018 ("the Statement") being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Reguirements) Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016.

This Statement, which is the responsibility of the Parent's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review.

• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of Parent's personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and, accordingly, we do not express an audit opinion.
• 1. The Statement includes the results of the Parent and subsidiaries as given in Annexure to this report.
• 1. Based on our review conducted as stated above and based on the consideration of the review report of the other auditor referred to in paragraph 5 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Reguirements) Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016, including the manner in which it is to be disclosed, or that it contains any material misstatement.

1. We did not review the interim financial results of a subsidiary included in the unaudited consolidated financial results, whose interim financial results reflect total assets of Rs. 427 Lakhs as at September 30, 2018, total revenues of Rs. 261 lakhs and 400 Lakhs for the Quarter and Six months ended September 30, 2018, total profit after tax of Rs. 15 Lakhs and 36 Lakhs and total comprehensive income of Rs. 6 Lakhs and 46 Lakhs for the Quarter and Six months ended September 30, 2018 respectively, as considered in the unaudited consolidated financial results. These interim financial results have been reviewed by other auditor whose report have been furnished to us by the Management and our report on the Statement, in so far as it relates to the amounts and disclosures included in respect of this subsidiary is based solely on the report of the other auditor.

Our report on the Statement is not modified in respect of this matter.

For DELOITTE HASKINS & SELLS LLP

Chartered Accountants (Firm's Registration No. 117366W/W-100018)

ikas Bagaria Partner (Membership No. 60408)

MUMBAI, November 02, 2018

Annexure to the Auditor's Report

List of Subsidiaries:

• 1. Sonata Information Technology Limited
• 1. Sonata Software North America Inc.
• 1. Rezopia Inc.
• 1. Halosys Technologies Inc.
• 1. Interactive Business Information Systems Inc.
• 1. Sonata Software GmbH
• 1. Sonata Software FZ-LLC, Dubai
• 1. Sonata Europe Limited
• 1. Sonata (Qatar) LLC, Qatar

$\textbf{SONATA SOFIWARE LIMITED} \label{eq:SSONATASOFIWARE LIMITED} \textbf{Registered Office: 208, T.V. Industrial State, S.K. Aire Marg, Worli, Mumbai - 400 030} \textbf{Corporate Office: 1/4, A.P.S Trust Building, Bull Temple Road, N.R. Colony, Bangalore - 560 019} \hspace{-0.3cm} \textbf{CIN - U72200MHz994PLC082110} \hspace{-0.3cm} \textbf{CIN - U72200MHz9994PLC082110} \hspace{-0.3cm} \textbf{GIN - U72200MHz9994PLC08211$

www.sonata-software.com, Tel:

	Statement of unaudited consolidated financial results for the quarter and six months ended September 30, 2018
			Quarter ended		Six months ended		Year ended
SINo.	Particulars	September 30,2018	June 30,2018	September 30,2017	September 30,2018	September 30,2017	March 31,2018
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
$\mathbf 1$	Revenue from operations	59,307	68,832	42,686	128,139	106,139	245,394
$\mathbf 2$	Other income	1,669	785	1,121	2,454	2,705	4,545
3	Total Revenue (1 + 2)	60,976	69,617	43,807	130,593	108,844	249,939
4	Expenses
	(a) Purchases of Stock-in-Trade	30,626	41,906	18,536	72,532	59,701	148,807
	(b) Changes in inventories of Stock-in-Trade			197
	(c) Employee benefits expense	14,638	13,205	13,207	27,842	25,381	51,374
	(d) Finance costs	95	67	123	162	292	481
	(e) Depreciation and amortization expense(f) Other expenses	289	290	324	579	629	1,241
	Total expenses	6,64352,291	6,38661,854	5,274	13,030	10,817	22,114
				37,661	114,145	96,820	224,017
5	Profit before exceptional items and tax (3 - 4)	8,685	7,763	6,146	16,448	12,024	25,922
6	Exceptional item
	- Interest income on income tax refund		186	20	186	114	115
$\overline{7}$	Profit before tax $(5 + 6)$	8,685	7,949	6,166	16,634	12,138	26,037
8	Tax expense
	(1) Current tax	2,800	2,522	1,662	5,321	3,370	7,125
	(2) Deferred tax	(333)	(314)	(32)	(647)	(85)	(301)
9	Profit for the period (7 - 8)	6,218	5,741	4,536	11,960	8,853	19,213
10	Other comprehensive income
	1 (a) Items that will not be reclassified to profit or loss	82	151	(67)	233	(115)	(99)
	(b) Income tax relating to items that will not be reclassified
	to profit or loss	(24)	(42)	16	(66)	28	24
	2 Items that will be reclassified to profit or loss
	(a) Exchange differences in translating the financial statements
	of foreign operations and on goodwill reinstatement	464	(310)	141	154	129	286
	(b) Exchange differences on forward cover	(1,706)	(637)	(37)	(2, 343)	(187)	(581)
	(c) Income tax relating to Items that will be
	reclassified to profit/(loss)	360	263	(25)	623	14	72
	Total	(824)	(575)	28	(1, 399)	(131)	(298)
11	Total Comprehensive Income for the period (9 + 10)	5,394	5,166	4,564	10,561	8,722	18,915
	Of the Total Comprehensive Income above, total comprehensive income
	attributable to:
	Owners of the parent	5,394	5,190	4,562	10,585	8,706	18,955
	Non - controlling interest		(24)		(24)	16	(40)
		5,394	5,166	4,564	10,561	8,722	18,915
	Of the Total Comprehensive Income above, Profit for the period
	attributable to:
	Owners of the parent	6,218	5,765	4,534	11,984	8,837	19,253
	Non - controlling interest	6,218	(24)5,741	4,536	(24)	16	(40)19,213
	Of the Total Comprehensive Income above, Other Comprehensive Income				11,960	8,853
	for the period attributable to:
	Owners of the parent	(824)	(575)	28	(1, 399)	(131)	(298)
	Non - controlling interest
		(824)	(575)	28	(1, 399)	(131)	(298)
12	Paid-up equity share capital (Face Value ₹ 1/-)	1,038	1,038	1,037	1,038	1,037	1,038
13	Other equity	64,293	64,293	58,003	64,293	58,003	64,293
14	Earnings per equity share (of ₹ 1/- each) :
	(a) Basic	5.99	5.55	4.37	11.54	8.52	18.54
	(b) Diluted	5.98	5.55	4.37	11.53	8.52	18.54
	See accompanying notes to the consolidated financial results

SONATA SOFTWARE LIMITED

Registered Office: 208, T.V. Industrial Estate, S.K. Ahire Marg, Worli, Mumbai - 400 030 Corporate Office: 1/4, A.P.S Trust Building, Bull Temple Road, N.R. Colony, Bangalore - 560 019 CIN - L72200MH1994PLC082110

www.sonata-software.com, Tel: +91-080-67781999 Fax: +91-080-26601387, investor@sonata-software.com

	Part II		(₹ in lakhs)
	Balance Sheet
SINo.	Particulars	As atSeptember 30, 2018	As atMarch 31, 2018
	ASSETS
$\mathbf 1$	NON-CURRENT ASSETS
	(a) Property, Plant and Equipment	2,356	2,315
	(b) Capital work-in-progress	25	28
	(c) Goodwill	8,944	8,067
	(d) Other intangible assets	828	1,009
	(e) Financial assets
	(i) Investments	6,918	6,845
	(ii) Other Financial Assets	1,809	2,117
	(f) Deferred tax assets (net)	2,479	1,244
	(g) Other non-current assets	3,606	6,363
	Total	26,965	27,988
$\overline{2}$	CURRENT ASSETS
	(a) Financial assets
	(i) Investments	6,478	12,997
	(ii) Trade receivables	55,648	39,644
	(iii) Cash and cash equivalents	20,666	33,406
	(iv) Bank balances other than (iii) above	2,138	1,329
	(v) Other Financial Assets	3,845	4,275
	(b) Other current assets	5,201	3,602
	Total current assets	93,976	95,253
	TOTAL ASSETS	120,941	123,241
	EQUITY AND LIABILITIES
3	EQUITY
	(a) Equity Share capital	1,038	1,038
	(b) Other equity	66,374	64,293
	(c) Non-controlling interest	(28)	(4)
	Total	67,384	65,327
	LIABILITIES
4	NON-CURRENT LIABILITIES
	(a) Financial liabilities
	(i) Borrowings	1,558	1,868
	(ii) Other Financial Liabilities		243
	(b) Other non-current liabilities	1,053	1,025
5	CURRENT LIABILITIES	2,611	3,136
	(a) Financial liabilities
	(i) Borrowings	520
	(ii) Trade payables	37,137	43,226
	(iii) Other Financial Liabilities	4,072	1,920
	(b) Other current liabilities	3,076	4,205
	(c) Provisions	1,650	1,437
	(d) Current tax liabilities (net)	4,491	3,990
	Total current liabilities	50,946	54,778
	TOTAL EQUITY AND LIABILITIES	120,941	123,241

Notes:

1 These quaterly consolidated financials results prepared in accordance with Ind AS for the quarter and six months ended September 30, 2018 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on November 2, 2018.

2 Unaudited Consolidated financial results include results of subsidiaries i.e, Sonata Information Technology Limited, Sonata Software North America Inc., Rezopia, Inc., Halosys Technologies

Inc., Interactive Business Information Systems, Inc. (IBIS), Sonata Software GmbH, Sonata Europe Limited, Sonata Software FZ-LLC and Sonata Software (Qatar) LLC.

3 Based on the financial performance of the Company, the Board at its meeting held today, approved an interim dividend of ₹4.75 /- per share.

4 The consolidated segment wise revenue and results are as follows :

Particulars		Quarter ended		Six months ended	Year ended
	September 30,2018	June 30,2018	September 30,2017	September 30,2018	September 30,2017	March 31,2018
	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
1. Segment revenue
a. India	31,260	42,544	17,972	73,804	61,395	148,943
b. Other than India	28,884	26,877	25,457	55,761	45,971	98,608
Total	60,144	69,421	43,429	129,565	107,366	247,551
Less : Inter segment revenue	(837)	(589)	(743)	(1, 426)	(1, 227)	(2, 157)
Revenue from operations	59,307	68,832	42,686	128,139	106,139	245,394
2. Segment results
Profit before tax and interest
a. India	895	936	953	1,831	2,382	3,978
b. Other than India	7,197	6,504	4,820	13,701	9,003	20,819
Total	8,092	7,440	5,773	15,532	11,385	24,797
Less: Finance costs	(95)	(67)	(123)	(162)	(292)	(481)
Add: Unallocable income net of unallocable expenditure	688	390	496	1,078	931	1,606
3. Profit before tax and exceptional item	8,685	7,763	6,146	16,448	12,024	25,922
Exceptional item
- Interest Income on income tax refund		186	20	186	114	115
4. Profit before tax	8,685	7,949	6,166	16,634	12,138	26,037

				(₹ in lakhs)
Particulars	As at	As at	As at	As at
	September 30,	June 30,	March 31,	September 30,
	2018	2018	2018	2017
	(Unaudited)	(Unaudited)	(Audited)	(Unaudited)
5. Segment assets
a. India	41,081	54,638	46,939	34,479
b. Other than India	65,320	67,242	61,215	49,983
c. Unallocable	14,540	13,724	15,087	15,539
Total Assets	120,941	135,604	123,241	100,001
6. Segment liabilities
a. India	29,439	44,304	38,674	20,379
b. Other than India	16,525	12,855	11,865	11,326
c. Unallocable	7,594	7,919	7,376	8,595
Total Liabilities	53,558	65,078	57,915	40,300

FOR AND ON BEHALF OF THE BOARD OF DIRECTORS SRIKARREDDY MANAGING DIRECTOR

Place: Mumbai Date: November 2, 2018

Sonata Software - Consolidated Q2 FY19 PAT at ₹ 62 Crores; 37% YoY growth, declares interim dividend of $\overline{\mathcal{F}}$ 4.75 per share Mumbai, November 2, 2018

Sonata Software, a global IT services and technology solutions company, today reported its unaudited financial results for its 2nd quarter and six months ended 30thSeptember, 2018.

								₹ in Crores
Description		For the Quarter ended					For the half year ended
	30-Sep-18	$30$ -Jun-18	30-Sep-17	QoQ	YoY	30-Sep-18	30-Sep-17	YoY
Revenues
International IT Services	275.3	257.1	234.6	7%	17%	532.4	445.8	19%
Domestic-Products & Services	325.9	437.1	199.7	$-25%$	63%	763.1	627.8	22%
Consolidated	593.1	688.3	426.9	$-14%$	39%	1,281.4	1,061.4	21%
EBITDA
International IT Services	73.5	66.7	52.7	10%	40%	140.1	102.6	36%
Domestic-Products & Services	17.7	16.7	14.0	6%	26%	34.4	29.1	18%
Consolidated	90.7	83.1	66.1	9%	37%	173.8	130.6	33%
PAT
International IT Services	51.2	47.2	37.0	9%	38%	98.5	71.5	38%
Domestic-Products & Services	11.0	10.4	8.4	6%	31%	21.4	16.9	26%
Consolidated	62.2	57.6	45.4	8%	37%	119.8	88.4	36%

Speaking on the results Mr. Srikar Reddy, Managing Director & CEO of the Company said, "Our strategy of implementing proprietary Platformation™ methodology for digital transformation has been a primary driver for the progress we have made in the financial year. We have been able to acquire new clients and strengthen our relations with our partners and clients alike. We believe that our continued Platformation™ focus and building and deploying new technologies like RPA, AI , ML, IOT, Block Chain, Cyber Security, Microservices and focus on our core digital platforms like Brick and Click Retail, Rezopia Travel, Modern Distribution, Halosys Mobility and Kartopia Ecommerce will help us to differentiate in the digital transformation opportunity ".

Performance Highlights for the quarter:

• Consolidated:
• ▶ Revenues at ₹593 Crores : decline of 14% QoQ;

• EBITDA at ₹91 Crores : growth of 9% QoQ;

• PAT at ₹62 Crores : growth of 8% QoQ;

• Cash and cash equivalents $\overline{\mathcal{F}}$ 360 Crores.

• International IT Services:

• Revenues at ₹275 crores; growth of 7% QoQ;

• ▶ EBITDA at ₹74 Crores : growth of 10% QoQ;

• PAT at ₹51 Crores : growth of 9% QoQ;

• $\triangleright$ Addition of 11 new customers.
• Domestic Products& Services:

• Revenues at ₹326 crores : decline of 25% QoQ;

• ▶ EBITDA at ₹18 Crores : growth of 6% QoQ;

• PAT at ₹11 Crores : growth of 6% QoQ;

About Sonata Software

Sonata Software is a global IT solutions firm focused on catalysing business transformation initiatives of its clients through deep domain knowledge, technology expertise and customer commitment. The company delivers strategic technology solutions for Travel, Retail & Distribution and Software Product companies to drive enhanced customer engagement, operations efficiency and return on IT investments. Sonata brings its own proprietary platforms, products and services in digital technology areas such as Omni-channel commerce, Mobility, Analytics, Cloud and ERP to enable speed and reliability of IT led innovation. A trusted long-term service provider to Fortune 500 companies across both the software product development and enterprise business segments, Sonata seeks to add differentiated value to leadership to those who want to make an impact on their businesses, with IT.

For further information, please contact:

Nandita Venkatesh Sonata Software Limited CIN-L72200MH1994PLC082110 A.P.S. Trust Building, Bull Temple Road, N.R. Colony Bangalore 560019, India Tel: +91 80 67781999 nandita.v@sonata-software.com