Sonata Software Q2 consolidated net up 72% to Rs 31 crore

Sonata Software today disclosed 72 per cent rise in consolidated net profit at Rs 31.11 crore in the second quarter ended September 30.
The information technology firm's consolidated net profit stood at Rs 18.05 crore in the same period a year ago.
However, profit after tax (PAT) of the company dropped 3 per cent sequentially on account of foreign currency loss of Rs 7 crore, Sonata said in a release.
The impact of the swing in foreign currency loss was primarily in international IT services business, it said.
Further, Q1 results had certain exceptional income in the domestic products and services on account of interest on refunds received from the Income Tax department.

Adjusted for the forex swing and exceptional income in previous quarter, Q2 has been a period of positive growth in all key parameters of the company, the release said.
EBIDTA (earnings before interest, taxes, depreciation and amortisation) grew 71 per cent to Rs 45 crore in the July- September period.
"We continue to focus on transforming our clients' business applying cutting edge solutions based on mobility, cloud and analytics. We continue to invest on all important aspects of our business and believe they will lead to growth in future," Sonata Software Managing Director and Chief Executive Srikar Reddy said.