Bangalore-based IT company Sonata Software has registered a net profit of Rs 8.64 crore for the third quarter of FY13 ended December 31, 2012, as against a loss of Rs 12.68 crore when compared to the same period last year.
The total revenue of mid-tier firm for the period ended December 31, 2012 stood at Rs 395.33 crore reporting a decline of 24% from Rs 526.95 when compared to the same period last year.
Srikar Reddy, Managing Director & CEO of the Company said, “Our continued efforts in offering a differentiated value proposition and offerings to our clients are beginning to show results. We continue to invest in new technologies and markets.”
During the quarter the company had a loss of around Rs 58.06 crore on sale of subsidiary TUI InfoTec. The company's cash reserves at the end of the December 31, 2012 stood at Rs 172 crores. The revenues of the company from its international business stood at Rs 84 crores, witnessing a growth of 21%, while the net profit from its domestic business stood at Rs 2.55 crore.
On BSE the shares of the company closed at Rs 23.50 up 4.44% as against previous day's close.
