Date:17/01/2006 URL: http://www.thehindubusinessline.com/2006/01/17/stories/2006011702240400.htm

Back Sonata Soft Q3 net rises 68 pc

Our Bureau

Bangalore , Jan. 16

SONATA Software Ltd has reported a 68-per cent growth in net profits at Rs 7.1 crore for the quarter ended December 2005, as against Rs 4.2 crore in the corresponding quarter last year.

Revenues for the December quarter grew by 63 per cent to Rs 41 crore as compared to Rs 25.28 crore in corresponding last quarter. Net profits for Q3 this financial year were up by 27 per cent on a sequential basis and 13 per cent over Q2.

Net profits on a consolidated basis including that of domestic operations were up by 156 per cent to Rs 8.5 crore as compared to Rs 3.3 crore in Q3 last year. Consolidated revenues were up 45 per cent to Rs 127.4 crore as compared to Rs 87.6 crore. Sequentially, net profits and revenues were up 35 and 12 per cent respectively.

Mr B. Ramaswamy, President and Managing Director, Sonata, said that the December quarter was the 10th consecutive quarter of growth. "It is a vindication of the growth strategy being pursued by the company."

Sonata added six new clients during the quarter and drew some 55 per cent of its revenues from Europe and 45 per cent from the US. The company added 153 employees during the quarter, taking the total to 1,549. The cash generation from operations stood at Rs 11.29 crore.

The shares of Sonata closed higher on Monday by 1.37 per cent at Rs 40.80 on the Bombay Stock Exchange. Over the past one year, the Sonata stock has gained by around 80 per cent.