Sonata Software net up 30% in Q3
Tuesday - February 12, 2019 8:22 pm , Category : BUSINESS
Bengaluru, Feb 12 (IANS) Leading IT solutions provider Sonata Software on Tuesday reported a consolidated net profit of Rs 64 crore for the third quarter (Q3) of fiscal 2018-19, registering 30 per cent annual growth over Rs 49 crore posted in the same period a year ago."Our consolidated revenue from international IT services and domestic products and services grew annually 10 per cent to Rs 844 crore for the quarter (Q3) under review from Rs 767 crore in the like period a year ago," said the city-based listed firm in a statement here.Sequentially, net profit for Q3 rose 3 per cent to Rs 64 crore from Rs 62 crore and revenue shot up 42 per cent to Rs 844 crore from Rs 593 crore a quarter ago.Consolidated earnings before interest, tax, depreciation and amortisation (Ebitda) grew 33 per cent annually to Rs 95 crore in Q3 from Rs 72 crore a year ago and Rs 91 crore a quarter ago."We execute our strategy as a digital transformation partner through our platformation methodology," said Sonata Chief Executive Srikar Reddy.In line with its strategy, the company acquired Scalable Data Systems and Sopris Systems during the quarter to strengthen its position globally as a Microsoft Dynamics 365 partner in the enterprise resource planning (ERP) and customer relationship management (CRM) and applications."Our investments in IP, Brick and Click, modern distribution, Halosys and Rezopia and new technologies like RPA, AI, ML and platform engineering for the cloud differentiate us in our core verticals of retail, travel, CPG, distribution and ISVs," added Reddy.The company's scrip of Re 1 face value gained Rs 3.10 per share to close at Rs 329.10 at the end of Tuesday's trading on the BSE as against Monday's closing rate of Rs 326 and opening price of Rs 327.75 per share.