Sonata net up 65 percent in Q3

IT consulting and software services provider Sonata Software Friday reported Rs.36 crore consolidated net profit for third quarter of fiscal 2014-15, registering 65 percent year-on-year (YoY) and 15 percent sequential growth.

Consolidated revenue for the quarter under review grew 21 percent YoY and 15 percent sequentially to Rs.470 crore, including Rs.314 crore from products and services in the domestic market and Rs.156 crore from exports.

"We scaled up engagements with strategic customers across independent software vendors (ISVs), retail and travel segments, helping them in their digital information in omni-channel commerce, mobility, social and analytics," Sonata chief executive Srikar Reddy said in a statement.

Earnings before interest, depreciation, tax and amortization (Ebitda) shot up 59 percent YoY and 16 percent sequentially to Rs.52 crore for the quarter on consolidated basis.

"The core drivers of our performance continued to get strengthened. The value we bring with our services based on focus industries, technologies and customer commitment drove our performance in the quarter under review," Reddy added.

The city-based IT services firm focuses on enabling businesses win value with strategic IT initiatives. With expertise gained from relationships spanning product engineering, early adopter programmes, implementation and alliance status with global software behemoths like Microsoft, SAP, Oracle, IBM, HP, hybris and Tibco, the company offers consulting, application development, testing, maintenance and infrastructure support to deliver business critical outcomes.