Sonata Software rallies as Q4 profit jumps three-fold

The stock has soared 14% to Rs 50.65 after reporting a consolidated net profit of Rs 24 crore in March quarter.

Sonata Software has rallied 14% to Rs 50.65, in an otherwise weak market, after reporting over three-fold jump in consolidated net profit at Rs 23.57 crore for the fourth quarter ended March 31, 2014 (Q4FY14). The small-sized IT consulting and services company had profit of Rs 6.97 crore in the same quarter year ago.

Consolidated total income from operations of the company increased 32% to Rs 341 crore for the quarter under consideration from Rs 259 crore in the corresponding quarter of previous year.

The company said it has recorded all time high revenues and profit on both consolidated and also individually basis in each of two segments – international IT services and domestic products and services -  it operates in.

Operating profit or earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 97% yoy to Rs 117 crore during the recently concluded quarter, it added.

The stock opened at Rs 48.20 and touched high of Rs 52 on NSE. The counter has seen huge trading activity with a combined 1.45 million shares changing hands till 1015 hours on NSE and BSE.