Sonata software net soars 121 percent in Q2

Leading IT services firm Sonata Software Ltd posted Rs.18 crore net profit for the second quarter (July-September) of this fiscal, registering a whopping 121 percent growth year-on-year (YoY) from Rs.8 crore in the same period a year ago.

Consolidated revenue, however, grew 15 percent YoY to Rs.425 crore, including Rs.306 crore from domestic products and services during the quarter (Q2) under review from Rs.370 crore in the like period a year ago.

Earnings before income, depreciation, tax and amortisation (Ebidta) shot up 73 percent YoY to Rs.26 crore from Rs.15 crore year ago.

"Our new strategy to deliver value to our clients' business through technology-led solutions is reflecting in our financial performance," Sonata chief executive Srikar Reddy said in a statement here Tuesday.

The company added eight clients in the quarter across verticals and declared interim dividend of Re.1 per share, which is 100 percent on face value of Re.1 per share.

"We continue to invest in strengthening our value delivery through technology capability, committing to client relationships and building capability across verticals and horizontal offerings of importance," Reddy added.

The city-based mid-segment software firm focuses on enabling businesses win value with strategic IT initiatives.