Sonata profits zoom, declares 25% dividend

NEW DELHI: Sonata Software has posted 140 per cent increase in its net profit, which touched Rs 23.39 crore against the previous year’s figure of Rs 9.75 crore. However, its revenues for the year grew by just 40.01 per cent to touch Rs 176.17 crore. Similarly, ROCE was significantly higher at 42.74 per cent over the previous year’s 31.13 per cent while Return on Net Worth also improved to 43.27 per cent from the previous year’s 32.71 per cent. Cash generation during the year was higher by 431 per cent over the previous year.

Commenting on the results, Sonata Software Limited Managing Director & President B. Ramaswamy said, "The suite of services in the area of E-Commerce which are being offered under the brand name "eSonata" has been very well received. While this has helped in new customer acquisitions, it is a foundation for future growth. Further, Sonata's Core Research Group is focusing on evolving service offerings around new technology areas like WAP, mobile commerce and hand held devices."

The Board of Directors of Sonata Software Ltd has recommended a final dividend of Rs 2.50 per share while adopting its audited results for the year ended 31.3.2000. The Board also recommended to the Shareholders, the resolution increasing the FII investment limits in the company from the previous 30 per cent to 40 per cent.