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Sonata Software net up 18% in Q3
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SME Times News Bureau | 24 Jan, 2020
Leading IT services and technology solutions firm Sonata Software on
Friday reported Rs 76 crore consolidated net profit for the third
quarter of 2019-20, registering 18 per cent annual growth from Rs 64
crore in the same period last year
In a regulatory filing on the
BSE, the city-based software firm said consolidated revenue for the
quarter under review (Q3) grew 47 per cent annually to Rs 1,237 crore
from Rs 844 crore in the like period a year ago.
"Though
sequentially net profit grew 5 per cent to Rs 76 crore from Rs 72 crore,
revenue zoomed a whopping 76 per cent to Rs 1,237 crore from Rs 703
crore a quarter ago," it said in the filing.
Earnings before
interest, tax, depreciation and ammortisation (Ebitda) increased 24 per
cent annually to Rs 118 crore from Rs 95 crore a year ago and 6 per cent
sequentially from Rs 111 crore a quarter ago.
"The growth in
profit and revenue have been due to our focus on being a digital
transformation partner through our proprietary Platformation methodology
and strategy of IP-led differentiation," said Sonata Chief Executive
Srikar Reddy in a statement.
The company also benefited from
business growth in diverse verticals such as retail, distribution,
consumer packaged goods, software vendors, commodity and service
industries and investment in new technologies, he said
"We
believe Platformation is mainstream for us, as we see increased traction
in the market with addition of new marquee clients and strong
pipeline," Reddy added.
The large increase (76 per cent) in
sequential revenue is owing to a large transaction in the domestic
products and services business.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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₹91.2
|
₹89.5 |
UK Pound
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₹123.35
|
₹119.35 |
Euro
|
₹107
|
₹103.35 |
| Japanese
Yen |
₹57.9 |
₹56.1 |
| As on 22 Jan, 2026 |
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