BENGALURU: Bengaluru-based mid-tier IT company Sonata Software has announced plans to hire 700 freshers in the 2024-25 financial year. According to CFO Jagannathan CN, the company hired approximately 225 freshers in the first half of FY25.
For Q2 of FY25, Sonata’s consolidated EBITDA was recorded at Rs 177.3 crore, while PAT stood at Rs 106.5 crore, showing a quarter-on-quarter growth of 0.8 per cent.
In the International IT services segment, however, the company reported a PAT of Rs 62.2 crore, reflecting a 4.5 per cent decrease quarter-on-quarter.
During its earnings announcement, the company highlighted certain headwinds impacting performance in Q2 and Q3 of FY25. These challenges stemmed partly from salary increments for mid- and senior-level managers, which caused a 1.1 per cent decrease in EBITDA for Q2 FY25.
Additionally, lower margins were observed due to large deals announced in Q1 FY25, which are expected to affect profitability across three to four quarters.
“These headwinds are being countered by operational improvements that had a positive impact of 60 basis points in Q2 FY25. As a result, our net impact at an international level was only 50 basis points in EBITDA before forex and other income,” said Jagannathan.
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