Bengaluru, Oct 31 (SocialNews.XYZ) Leading IT services provider Sonata Software on Wednesday reported Rs 72 crore consolidated net profit for the second quarter of fiscal 2019-20, registering 16 per cent annual growth from Rs 62 crore in the same period a year ago.
Sequentially, net profit increased 8 per cent to Rs 72 crore from Rs 67 crore a quarter ago, said the city-based company in a statement here.
Consolidated revenue for the quarter (Q2) under review grew 19 per cent year-on-year (YoY) to Rs 703 crore from Rs 593 crore in the like period a year ago but declined 20 per cent sequentially from Rs 874 crore a quarter ago.
Earnings before interest, tax, depreciation and amortisation (Ebitda) rose 23 per cent YoY to Rs 111 crore from Rs 91 crore a year ago and 5 per cent sequentially from Rs 106 crore a quarter ago.
The company declared an interim dividend of Rs 5.75 per share.
"The growth in profit and revenue are result of our focus being a digital transformation partner through proprietary platformation methodology and strategy of Intellectual Property (IP)-led differentiation," said Sonata Chief Executive Srikar Reddy in the statement.
The company's acquired Sopris and Scalable are showing promise.
"We see momentum in the market with addition of marquee clients and strong pipeline," Reddy added.
The company's shares opened at Rs 320.40 and rose by 0.17 per cent to close at Rs 316.15 on the BSE on Wednesday.
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
