Mid-sized IT services company, Sonata Softare posted 150% jump in its net profit for the quarter ended December 31, 2013 at Rs 8.65 crore when compared with the corresponding quarter in the previous year.
The revenues of the Bangalore-based company at Rs 387.09 crore declined two% on year-on-year basis and 9% sequentially owing to decline in the contribution by its domestic products and services business.
Apart from providing IT services to global clients, Sonata Software is also a reseller for close to 20 software product companies in the Indian domestic market. In the quarter under review, the company derived Rs 261.63 crore revenues from the domestic market as compared to Rs 312.18 crore in the corresponding quarter last fiscal and Rs 305.49 core in the preceding quarter of FY14.
N Venkatraman, CFO of Sonata Software product reseller business is quite seasonal in the Indian market and the third quarter usually tends to be lumpy. However, the company has been focused on improving bottomline which has shown an impressive growth in the quarter.
