Sonata Software net up 22% in Q3

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Bengaluru, Feb 7 (IANS) IT services and technology solutions firm Sonata Software on Wednesday reported Rs 49 crore consolidated net profit for the third quarter of 2017-18 from Rs 40 crore in the same period year ago, registering 22 per cent annual growth.

“Consolidated revenue for the quarter under review grew 33 per cent annually to Rs 767 crore from Rs 575 crore in the like period a year ago,” said the city-based software firm in a statement here.

Sequentially, net profit, however, grew 9 per cent from Rs 45 crore quarter ago and revenue a whopping 80 per cent from Rs 427 crore.

Earnings before interest, tax, depreciation and amortisation (Ebitda) grew 10 per cent annually to Rs 72 crore from Rs 65 crore year ago and 8 per cent sequentially from Rs 66 crore quarter ago.

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“Strong top-line and bottom- line performance continued in the quarter. We have also acquired new marquee clients during the quarter,” said Sonata Chief Executive Srikar Reddy in the statement.

The company’s proprietary methodology to build digital businesses on its digital platform has gained acceptance by its clients, it said.

–IANS

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