Sonata declares Q1 Results FY01-02Sonata Net At Rs. 79.63 Millions
Bangalore, July 12, 2001
The Board of Directors of Sonata at a meeting held here today adopted the audited accounts for the quarter ended 30th June 2001.
Announcing the results, Mr. B.Ramaswamy, President & Managing Director of Sonata said, "In view of the slowdown in the U.S. market the Company has adopted a three pronged strategy - Increased focus in Europe, Revamping of offerings and Thrust on enterprise solutions. The first strategy has started showing results in as much as 39% of the revenue in the current quarter came from Europe as compared to 20% in the same quarter last year and 25% in the quarter 4 of financial year 2001. Revamping of offering and the thrust on enterprise solutions will show positive results in the next couple of quarters."
Performance for the quarter ended 30th June 2001
| |
|
(Figures
in Rs. Million) |
| |
@SITL |
SONATA |
SONATA
& SITL |
SONATA |
| |
Quarter
Ended On
30.06.2001 |
Quarter
Ended On
30.06.2001 |
Quarter
Ended On
30.06.2001
|
Quarter
Ended On
30.06.2000
|
| 1.
Sales & Services |
|
|
|
|
|
International Operations |
- |
242.82 |
242.82 |
241.70 |
|
Indian Operations |
275.68 |
- |
275.68 |
156.19 |
|
Total Sales & Services |
275.68 |
242.82 |
518.50 |
397.89 |
| |
|
|
|
|
| 2.
Other Income |
1.45
|
14.89 |
16.34 |
9.51 |
| |
|
|
|
|
| 3.
Total Income |
277.13
|
257.71
|
534.84 |
407.40 |
| |
|
|
|
|
| 4.
Expenditure |
|
|
|
|
|
a) Purchase of traded items |
251.25
|
-
|
251.25 |
129.12 |
|
b) Increase/Decrease in stock in trade |
(22.36) |
(4.45) |
(26.81) |
(7.37) |
|
c) Staff Cost |
11.80 |
53.43 |
65.23 |
50.21 |
|
d) Other Operating Expenses |
31.66 |
119.33 |
150.99 |
142.95 |
|
Total Expenditure |
272.35 |
168.31 |
440.66 |
314.91 |
| |
|
|
|
|
| 5.
Profit before Interest, Depreciation &
Tax |
4.78 |
89.40 |
94.18 |
92.49 |
| |
|
|
|
|
| 6.
Interest |
0.62 |
- |
0.62 |
0.09 |
| |
|
|
|
|
| 7.
Gross Profit after Interest but before depreciation
and tax |
4.16 |
89.40 |
93.56 |
92.40 |
| |
|
|
|
|
| 8.
Depreciation |
0.60 |
7.77 |
8.37 |
9.73 |
| |
|
|
|
|
| 9.
Provision for taxation |
1.50 |
2.00 |
3.50 |
3.50 |
| |
|
|
|
|
| 10.NET Profit |
2.06 |
79.63 |
81.69 |
79.17 |
Sonata Information Technology Limited (The Indian Operations of Sonata Software Limited) was spun off into a wholly owned subsidiary with effect from 29th June 2000. On account of this, the figures of Sonata for the quarter ended 30th June, 2001 will pertain only to the International Operations. The performance of Indian Operations is reflected in SITL for the Quarter ended 30th June 2001. For the previous year's Quarter ended June 2000 Sonata's figures include both Indian and International Operations.)
Highlights of the performance during quarter ended 30th June 2001
-
Quarter on quarter
- Revenue for the quarter was 257.71 million as compared to 248.06 million for the quarter ended 30th June 2000.
- Offshore revenues accounted for 49 % of the total income. The breakup for the quarter ended 30th June 2000 was 53%.
- Revenue from U.S. geographically accounted for 61% and Europe accounted for 39 %. The breakup was 79 % for U S and 20% for Europe respectively during the Quarter ended 30th June 2000.
- Operating margin (EBIDT) was 34.69 % as compared to 34.68 % during the Quarter ended 30th June 2000.
- Net profit was 30.90 % as compared to 29.55%, an increase of 8.64% over the Quarter ended 30th June, 2000.
- Six new customers were added during the Quarter.
- Sequential Growth
- Q1 - 2001-02 Q4 - 2000-01
- Revenues (Rs in Millions) 257.71 254.06
- Operating Margin (EBIDT) 34.69 % 36.91 %
- Profit after Tax 30.90 % 32.60 %
- Offshore / Onsite Revenues 49% / 51% ,45 % / 55 %
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