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Sonata software net zooms in Q3

Posted on Feb 08 2014 | IANS

Bangalore, Feb 8 : Sonata Software reported a net profit of Rs.21.6 crore for the October-December third quarter of fiscal 2013-14, posting a whopping 150 percent year-on-year (YoY) growth from Rs.8.7 crore in the like period a year ago.

Consolidated revenue for the quarter (Q3) under review, however, declined marginally (two percent) YoY to Rs.387 crore from Rs.395 crore year ago.

Sequentially, while net profit of the city-based company increased 20 percent from Rs.18 crore in second quarter (July-Sept), revenue declined nine percent from Rs.425 crore.

Earnings before interest, tax, depreciation and amortisation increased 87 percent YoY to Rs.32.6 crore.

"Growth momentum in performance reinforces belief that our strategy of transforming clients' businesses through domain knowledge is working," Sonata chief executive Srikar Reddy said in a statement here Saturday.

The company provides a range of software solutions and products across verticals, including social media, data analytics and cloud.

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