Sonata Q3 net up 48 per cent

Sonata Software has reported reported a healthy 48 per cent increase in its net profit for the third quarter-ended December 31, 2004 to Rs 4.2 crore from Rs 2.8 crore reported during Q3FY04.

The revenues also has gone up by appreciably by 54 per cent to touch Rs 25.2 crore for Q3FY05 from Rs 16.3 crore for Q3FY04.

On a sequential basis, Sonata has reported an increase of 7 per cent in net profit to touch Rs 4.2 crore for Q3FY05 from Rs 3.9 crore for Q2FY05. Revenues too has gone up 4 per cent to reach Rs 25.2 crore during Q3FY05 from Rs 24.2 crore reported during Q2FY05.

B Ramaswamy, president & MD, Sonata said: "The growth has been a result of consolidation of customer relationships. The company continues to invest in infrastructure and development facilities to meet its customers' expanding needs."

Sonata during the quarter in discussion added four new clients and cash generation from operations for the quarter ended is Rs 6 crore. The company has 1,225 employees and receivables as number of day's sales have reduced from 89 to 81 days.