Sonata Software net up 37% in Q2

Leading IT solutions provider Sonata Software on Friday reported Rs 62 crore consolidated net profit for the second quarter of fiscal 2018-19, registering 37 per cent annual growth from Rs 45 crore in the same period a year ago and 8 per cent up sequentially from Rs 58 crore a quarter ago.

"Consolidated revenue from international and domestic operations for the quarter under review (Q2) grew 39 per cent annually to Rs 593 crore from Rs 427 crore in the like period a year ago but declined 14 per cent sequentially from Rs 688 crore a quarter ago," said the city-based company in a statement.

Earnings before interest, tax, depreciation and mortisation (Ebitda) grew 37 per cent annually to Rs 91 crore from Rs 66 crore a year ago and 9 per cent sequentially from Rs 83 crore a quarter ago.

"Our strategy of implementing proprietary Platformation methodology for digital transformation has been a driver for the progress we made in the quarter," said Sonata Chief Executive Srikar Reddy in the statement.

The company has acquired an unspecified number of new clients and strengthened relations with its partners.

"We believe that building and developing new technologies and focus on core digital platforms will help us to differentiate in the digital transformation opportunity," added Reddy.

--IANS

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