Sonata Software Ltd. — Interim / Quarterly Report 2020

Jan 24, 2020

24th January, 2020

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

With reference to the captioned subject, we would like to inform that the Board of Directors of the Company inter‐alia considered and approved the Unaudited Financial Results of the Company (standalone and consolidated) for quarter and nine months ended 31st December, 2019 were considered and adopted by the Board in the meeting held today i.e. 24th January, 2020.

In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby enclose a copy of the Unaudited Financial Results (Standalone and Consolidated) for quarter and nine months ended 31st December, 2019 together with Limited Review Report from our Statutory Auditors. A copy of the press release is enclosed for your reference.

The meeting of the Board of Directors of the Company commenced at 1.30 p.m. and concluded at 2.45 p.m.

Also note that the aforesaid information will be available on our website www.sonata‐software.com

Kindly take the same on record.

Thanking you,

Yours faithfully For Sonata Software Limited

MANGAL KRISHNARAO KULKARNI Digitally signed by MANGAL KRISHNARAO KULKARNI Date: 2020.01.24 15:01:01 +05'30'

Mangal Kulkarni Company Secretary and Compliance Officer

Encl: as above

Deloitte Haskins & Sells LLP

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 STANDALONE 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 nine months ended December 31, 2019 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Company's 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 express a conclusion 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 (ICAI). A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard 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 amended, 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)

incom

Gurvinder Singh Partner (Membership No. 110128) UDIN: $20110128000007270$

Place: Bengaluru Date: January 24, 2020

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 ₹ in lakhs, except per share data

Dart I

Statement of unaudited standalone financial results for the quarter and nine months ended December 31, 2019
	Ouarter anded	Nine months ended	Year er

		Quarter ended			Nine months ended		Year ended
SINo.	Particulars	December 31, 2019	September 30, 2019	December 31, 2018	December 31, 2019	December 31, 2018	March 31, 2019
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
		23,018	21,611	21,199	65,505	61,027	82,933
$\mathbf{1}$	Revenue from operations	1,223	1,932	(259)	4,168	1,480	1,768
$\overline{2}$	Other income	24,241	23,543	20,940	69,673	62,507	84,701
3	Total Revenue $(1 + 2)$
4	Expenses				4,791	3,489	4,651
	(a) Purchases of Stock-in-Trade	1,803	1,509	1,104	34,626	29,755	40,466
	(b) Employee benefits expense	11,898	11,607	10,145 $\overline{2}$	802	8
	(c) Finance costs	259	264	160	1,533	452	613
	(d) Depreciation and amortization expense (Refer Note 6)	521	509	3,919	9,907	11,071	15,075
	(e) Other expenses	3,154	3,453 17,342	15,330	51,659	44,775	60,813
	Total expenses	17,635
5	Profit before exceptional items and tax (3 - 4)	6,606	6,201	5,610	18,014	17,732	23,888
6	Exceptional item - Interest income on income tax refund					49	49
$\overline{ }$	Profit before tax $(5 + 6)$	6,606	6,201	5,610	18,014	17,781	23,937
8	Tax expense					5,259	7,210
	(1) Current tax	1,890	1,749	1,749	4,971	(240)	(516)
	(2) Deferred tax	(197)	(138)	(4) 3,865	(176) 13,219	12,762	17,243
$\overline{9}$	Profit for the period (7 - 8)	4,913	4,590
10	Other comprehensive income			(306)	(228)	(88)	(22)
	1 (a) Items that will not be reclassified to profit or (loss)	(52)	28
	(b) Income tax relating to items that will not be reclassified to profit or	10	(7)	93	61	36	6
	$(\text{loss})$
	2 Items that will be reclassified to profit or (loss)
	(a) Exchange differences in translating the financial statements of	181	(15)	(228)	42	(134)	(99)
	foreign operations	(957)	(1, 141)	3,128	(2,054)	1,018	1,721
	(b) Exchange differences on forward cover (c) Income tax relating to items that will be reclassified to
	profit or (loss)	198	315	(888)	536	(337)	(454)
	Total	(620)	(820)	1,799	(1,643)	495	1,152
11	Total Comprehensive Income for the period (9 + 10)	4,293	3,770	5,664	11,576	13,257	18,395
12	Paid-up equity share capital (Face Value ₹ 1/-)	1,039	1,039	1,039	1,039	1,039	1,039
13	Other equity (Refer Note 4)	52,276	52,276	48,105	52,276	48,105	52,276
14	Earnings per equity share (of ₹1/- each) (Refer Note 3)				12.72	12.29	16.59
	(a) Basic	4.73	4.42 4.42	3.72 3.72	12.72	12.28	16.58
	(b) Diluted	4.73
	See accompanying notes to the financial results

Notes to unaudited standalone financial results for the quarter and nine months ended December 31, 2019:

These quaterly and nine months ended unaudited standalone financial results prepared in accordance with Indian Accounting Standards applicable as per Sec 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules 2015 and amendments thereafter have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on January

24, 2020. The Statutory Auditor of the company have carriedout a limited review of these results. 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 the segment $\overline{2}$

information in the unaudited consolidated financial results.

EPS for quarter and nine months period ended is not annualised. Less for quarter and time inormina period ended is not annualised.
The other equity with respect to quarter and nine months represents balance as per the audited Balance Sheet of the previous year as required by SEBI (List $\overline{a}$ As the quarter and year-to-date figures are taken from the source and rounded to the nearest digits, the quarter figures in this results added up to the figures reported for the previous quarters might not always add As th $\Delta$ 5

FORAND ON BEHALF OF THE BOARD OF DIRECTORS

up to the year-to-date figures reported in this results. Effective April 1, 2019, the Company adopted Ind AS 116 "Leases", applied to all lease contracts existing on April 1, 2019 using the modified retrospective method and has recognised Right of use (ROU) asset

6 measured at the present value of the remaining lease payments discounted using incremental borrowing rate with corresponding lease liability, on the date of initial application

The Board of Directors declared an interim dividend of ₹5.75/- (par value of ₹1/- each) per equity share on October 30, 2019 and the same was paid on November 13, 2019.The interim dividend declared in the $7$ ^* previous year was ₹4.75/- per equity share.

Place: Bengaluru Date: January 24, 2020

$\overline{1}$

Deloitte Haskins & Sells LLP

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 CONSOLIDATED 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 nine months ended December 31, 2019 ("the Statement") being submitted by the Parent pursuant to the requirement of Requlation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Requlations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's 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 express a conclusion 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 (ICAI). A review of interim financial information consists of making inquiries, primarily of Parent's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• 1. The Statement includes the results of the Parent and the Subsidiaries as given in the Annexure of this report.

Deloitte Haskins & Sells LLP

1. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard 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 amended, 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)

for the

Gurvinder Singh Partner (Membership No. 110128)

UDIN: $20110128AAAAAE1677$

Place: Bengaluru Date: January 24, 2020

Annexure to the Auditor's Report

List of Subsidiaries:

• Sonata Information Technology Limited $1.$
• Sonata Software North America Inc. ("SSNA") $2.$
• Rezopia Inc. (Merged with SSNA with effect from June 14, 2019) 3.
• Halosys Technologies Inc. (Merged with SSNA with effect from June 14, 2019) $4.$
• Interactive Business Information Systems Inc. 5.
• Sonata Software GmbH 6.
• Sonata Software FZ LLC 7.
• 1. Sonata Europe Limited
• 1. Sonata Software (Qatar) LLC
• 1. Scalable Data Systems Pty Ltd
• 1. Sopris Systems LLC

${\small \textbf{SONATA SOFTWARE LIMITED}} \ \textbf{Registered Office: 208, T.V. Industrial State, S.K. Airre Marg, World, Mumbai - 400 030} \ \textbf{Corporate Office: 1/4, A.P.S Trust Building, Bull Temple Road, N.R. Colony, Bangalore - 560 019} \ \textbf{CIN - L72200MH1994PLC082110} \ \textbf{www.sonata-software.com, Tel : +91-080-67781999 Fax : +91-080-26601387, investor@sonata-software.com} \end{small}$

Part I							₹ in lakhs, except per share data
	Statement of unaudited consolidated financial results for the quarter and nine months ended December 31, 2019
			Quarter ended		Nine months ended		Year ended
Si No.	Particulars	December 31, 2019	September 30, 2019	December 31, 2018	December 31, 2019	December 31, 2018	March 31, 2019
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
$\mathbf{1}$	Revenue from operations	123,688	70,307	84,396	281,458	212,535	296,090
$\overline{2}$	Other income	859	2,084	(474)	4,621	1,980	2,725
3	Total Revenue $(1 + 2)$	124,547	72,391	83,922	286,079	214,515	298,815
$\overline{a}$
	Expenses (a) Purchases of Stock-in-Trade	89,037	38,064	53,932	182,684	126,464	178,036
	(b) Employee benefits expense	16,697	16,178	13,792	49,019	41,634	56,886
	(c) Finance costs	430	352	106	1,164	268	339
	(d) Depreciation and amortization expense (Refer Note 6)	913	920	295	2,729	874	1,274
	(e) Other expenses	6,987	7,015	6,692	20,775	19,722	27,607
	Total expenses	114,064	62,529	74,817	256,371	188,962	264,142
5	Profit before exceptional items and tax (3 - 4)	10,483	9,862	9,105	29,708	25,553	34,673
6	Exceptional item
	- Interest income on income tax refund					186	276
	Profit before tax $(5 + 6)$	10,483	9,862	9,105	29,708	25,739	34,949
8	Tax expense
	(1) Current tax	2,763	3,173	2,554	8,422	7,875	11,045
	(2) Deferred tax	134	(535)	158	(230)	(489)	(984)
9	Profit for the period (7 - 8)	7,586	7,224	6,393	21,516	18,353	24,888
10	Other comprehensive income
	1 (a) Items that will not be reclassified to profit or (loss)	(42)	44	(331)	(191)	(98)	(22)
	(b) Income tax relating to items that will not be reclassified to profit or (loss)	10	(12)	98	53	32	11
	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	824	31	(515)	395	(361)	(76)
	(b) Exchange differences on forward cover	(965)	(1, 182)	3,099	(2,095)	756	1,665
	(c) Income tax relating to Items that will be
	reclassified to profit or (loss)	46	323	(770)	471	(147)	(348)
	Total	(127)	(796)	1,581	(1, 367)	182	1,230
11	Total Comprehensive Income for the period $(9 + 10)$	7,459	6,428	7,974	20,149	18,535	26,118
	Of the Total Comprehensive Income above, total comprehensive income
	attributable to:
	Owners of the parent	7,459	6,428	7,988	20,149	18,573	26,156
	Non - controlling interest			(14)		(38)	(38)
		7,459	6,428	7,974	20,149	18,535	26,118
	Of the Total Comprehensive Income above, Profit for the period
	attributable to: Owners of the parent	7,586	7,224	6,407	21,516	18,391	24,926
	Non - controlling interest			(14)		(38)	(38)
		7,586	7,224	6,393	21,516	18,353	24,888
	Of the Total Comprehensive Income above, Other Comprehensive Income
	for the period attributable to:
	Owners of the parent	(127)	(796)	1,581	(1, 367)	182	1,230
	Non - controlling interest	(127)	(796)	1,581	(1, 367)	182	1,230
12	Paid-up equity share capital (Face Value ₹ 1/-)	1,039	1,039	1,039	1,039	1,039	1,039
13	Other equity (Refer Note 5)	75,787	75,787	64,293	75,787	64,293	75,787
14	Earnings per equity share (of ₹ 1/- each) (Refer Note 4)
	(a) Basic	7.30	6.95	6.17	20.70	17.71	23.99
	(b) Diluted	7.30	6.95	6.16	20.70	17.69	23.97
	See accompanying notes to the consolidated financial results

Notes:

• 1 These quaterly and nine months ended unaudited consolidated financials results prepared in accordance with Indian accounting standards applicable as per Sec 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules 2015 and amendments thereafter have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on January 24, 2020. The Statutory Auditor of the company have carriedout a limited review of these results.
• 2 Unaudited consolidated financial results include financial results of subsidiaries i.e, Sonata Information Technology Limited, Sonata Software North America Inc.(SSNA), Halosys Technologies Inc. (merged with SSNA effective June 14, 2019), Rezopia Inc. (merged with SSNA effective June 14, 2019), Interactive Business Information Systems Inc. (IBIS), Sonata Software GmbH, Sonata Europe Limited, Sonata Software FZ-LLC, Sonata Software (Qatar) LLC, Scalable Data Systems Pty Ltd and Sopris Systems LLC.
• 3 The Board of Directors declared an interim dividend of ₹5.75/- (par value of ₹1/- each) per equity share on October 30, 2019 and the same was paid on November 13, 2019. The interim dividend declared in the previous year was ₹4.75/- per equity share.
• $\Lambda$ EPS for quarter and nine months ended is not annualised.
• The other equity with respect to quarter and nine months represents balance as per the audited Balance Sheet of the previous year as required by SEBI (Listing and Other Disclosure $\overline{5}$ Requirements) Regulations, 2015.
• 6 Effective April 1, 2019, the Group adopted Ind AS 116 "Leases", applied to all lease contracts existing on April 1, 2019 using the modified retrospective method and has recognised Right of use (ROU) asset measured at the present value of the remaining lease payments discounted using incremental borrowing rate with corresponding lease liability, on the date of initial application.
• As the quarter and year-to-date figures are taken from the source and rounded to the nearest digits, the quarter figures in this statement added up to the figures reported for the previous $\overline{7}$ quarters might not always add up to the year-to-date figures reported in this results.

$86$

Particulars		Quarter ended			Nine months ended
	December 31, 2019	September 30, 2019	December 31, 2018	December 31, 2019	December 31, 2018	March 31, 2019
	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
1. Segment revenue
a. India	79,589	35,831	53,875	164,331	127,679	179,441
b. Other than India	44,594	35,360	30,952	118,913	86,713	119,020
Total	124,183	71,191	84,827	283,244	214,392	298,461
Less : Inter segment revenue	(495)	(884)	(431)	(1,786)	(1,857)	(2, 371)
Revenue from operations	123,688	70,307	84,396	281,458	212,535	296,090
2. Segment results
Profit before tax and interest
a. India	1,942	1,430	1,528	5,047	3,359	4,862
b. Other than India	8,668	8,324	7,246	24,410	20,947	27,560
Total	10,610	9,754	8,774	29,457	24,306	32,422
Less: Finance costs	(430)	(352)	(106)	(1, 164)	(268)	(339)
Add: Unallocable income net of unallocable expenditure	303	460	437	1,415	1,515	2,590
3. Profit before tax and exceptional item	10,483	9,862	9,105	29,708	25,553	34,673
Exceptional item
- Interest Income on income tax refund					186	276
4. Profit before tax	10,483	9,862	9,105	29,708	25,739	34,949

8(b) Consolidated segment wise assets and liabilities

Consolidated segment wise assets and liabilities				(₹ in lakhs)
Particulars	December 31, 2019	September 30, 2019	March 31, 2019	December 31. 2018
5. Segment assets
a. India	71,183	53,421	50,377	58,507
b. Other than India	81,018	76,137	82,795	65,062
c. Unallocable	21,473	21,394	19,636	14,947
Total Assets	173,674	150,952	152,808	138,516
6. Segment liabilities
a. India	62,905	39,854	52.854	49,623
b. Other than India	26,012	26,028	17,302	11,161
c. Unallocable	4,189	4,802	5,826	8,289
Total Liabilities	93,106	70,684	75,982	69,073

FOR AND ON BEHALF OF THE BOARD OF DIRECTORS SRIKAR REDI AANAGING DIRECTOR CHREAEXECUTIV OFFICER

Place : Bengaluru Date: January 24, 2020

Sonata Software - Consolidated Q3 FY19-20 PAT at ₹76 Crores; 18% YoY growth. Bangalore, January 24, 2020

Sonata Software, a global IT services and technology solutions company, today reported its unaudited financial results for its 3rd quarter ended and nine months ended 31^st December 2019.

								in $\bar{\epsilon}$ Crores
Description	For the Quarter ended					For the nine months ended
Revenues	$31 - Dec-19$	$30-Sep-19$	31-Dec-18	QoQ	YoY	$31 - Dec - 19$	$31 - Dec - 18$	YoY
International IT Services	329.8	312.6	284.0	6%	16%	946.8	816.4	16%
Domestic-Products & Services	912.0	399.1	563.2	129%	62%	1,885.2	1,326.3	42%
Consolidated	1,236.9	703.1	844.0	76%	47%	2,814.6	2,125.4	32%
EBITDA
International IT Services	91.6	89.5	76.0	2%	21%	265.5	216.2	23%
Domestic- Products & Services	27.0	22.5	19.5	20%	38%	71.9	53.9	33%
Consolidated	118.3	111.4	95.1	6%	24%	336.0	268.8	25%
PAT
International IT Services	57.8	56.1	52.1	3%	11%	167.3	150.6	11%
Domestic- Products & Services	18.1	16.1	12.0	12%	50%	47.8	33.4	43%
Consolidated	75.9	72.2	64.1	5%	18%	215.2	183.9	17%

Speaking on the results Mr. Srikar Reddy, Managing Director & CEO of the Company said-

"The continued growth in revenues and profits have been the result of our focus on being a digital transformation partner through our unique proprietary Platformation™ methodology and our strategy of IP led differentiation, focus on verticals like Retail, Distribution, Consumer Packaged Goods, Independent Software Vendors, Commodity and Service industries and investment in new technologies. We believe Platformation™ is now mainstream for Sonata as we continue to see increased traction in the market with addition of new marquee clients and strong pipeline".

Performance Highlights for the quarter:

Consolidated:

• Revenues at ₹ 1,237 Crores : growth of 76% QoQ;*

• EBITDA at ₹118 Crores : growth of 6% QoQ;

• PAT at ₹76 Crores : growth of 5% QoQ;

• Net Cash and equivalents of approximately $\overline{\tau}$ 442 Crores.

• International IT Services:

• ▶ Revenues at ₹ 330 crores; growth of 6% QoQ;
• ▶ EBITDA at ₹ 92 Crores : growth of 2% QoQ;

• PAT at ₹ 58 Crores : growth of 3% QoQ;

• $\triangleright$ Addition of 9 new customers.

Domestic Products & Services:

• ▶ Revenues at ₹ 912 crores : growth of 129% QoQ; *
• ▶ EBITDA at ₹27 Crores : growth of 20% QoQ;

• PAT at ₹ 18 Crores : growth of 12% QoQ;

*The large increase in revenue is on account of a single large transaction in the domestic products & services business.

About Sonata Software

Sonata is a global technology company, that enables successful platform based digital transformation initiatives for enterprises, to create businesses that are connected, open, intelligent and scalable. Sonata's Platformation™ methodology brings together industry expertise, platform technology excellence, design thinking-led innovation and strategic engagement models to deliver sustained long term value to customers. A trusted partner of world leaders in the Retail, Manufacturing & Distribution, Travel and Software industries, Sonata's solution portfolio includes its own digital platform such as Brick & Click Retail Platform©, Modern Distribution Platform©, Rezopia Digital Travel Platform©, RAPID DevOps Platform©, Kartopia E-commerce Platform©, Halosys Mobility Platform©, and Commodity CTRM Platform©, best-in-class capabilities on ISV digital technology platforms such as Microsoft Dynamics 365, Microsoft Azure, SAP Hybris, Cloud Engineering and Managed Services, as well as new digital applications like IoT, Artificial Intelligence, Machine Learning, Robotic Process Automation, Chatbots, Block Chain and Cyber Security. Sonata's people and systems are nurtured to bring together the depth of thought leadership, customer commitment and execution excellence to make a difference to business with technology.

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