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Sonata Software shares surged 3.42 per cent on the BSE to hit an intraday high of Rs 649.60 a piece on Thursday. The information technology company’s stock price increased after the company said that it has bagged a multi-million dollar modernisation deal in Australia from an access solutions client.
The deal will integrate and standardize the client’s APAC business processes across 13 countries, ensuring seamless operations and real-time engagement with customers, suppliers, distributors, and partners, the company said in a statement on Wednesday.
Sonata Software had secured the contract in the first quarter of financial year 2024-25 (Q1 FY25), it said.
“Our efforts will focus on automating end-to-end processes, harnessing Microsoft's comprehensive technology stack to improve scalability and facilitate adoption for the client,” said Anthony Lange, Chief Revenue Officer at Sonata Software.
Sonata Software Q2FY25 results
Sonata Software reported a modest 0.9 per cent increase in net profit for Q2 ending September 30, reaching Rs 106.5 crore, up from Rs 105.6 crore in the previous quarter. However, the company's revenue dropped 14 per cent to Rs 2,169.8 crore, down from Rs 2,527.4 crore in Q1.
In international markets, revenue rose to Rs 707.9 crore, up from Rs 687.8 crore, while domestic revenue fell to Rs 1,461.9 crore from Rs 1,849.4 crore.
Earnings before interest and tax (Ebit) increased 1.1 per cent to Rs 144.3 crore, with margins improving to 6.7 per cent, up from 5.7 per cent last quarter.
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Sonata Software share price history
Sonata Software’s stock performance has underperformed the market year to date as it has fallen 12 per cent, while gaining 1 per cent in the last one year. In comparison BSE Sensex has risen 11 per cent year to date and 21 per cent in a year.
The company has a total market capitalisation of Rs 17,788.75 crore. Its shares are trading at a price to earnings multiple of 47.27 times and at an earning per share of Rs 13.42.
At 9:58 AM; the shares of the company were trading 1 per cent higher at Rs 634.35 a piece. By comparison, the BSE Sensex was up 0.11 per cent at 80,325.23 level.
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