Sonata Q1 revenue down by 5%

BANGALORE: Sonata Software Ltd has announced a decrease in its revenue to Rs 18.7 crore for the quarter ending June 30, 2003 as against Rs 19.7 crore for the corresponding quarter in the previous year, down by five percent. Profit After Tax (PAT) declined to Rs 2.5 crore for Q1, 2003 against Rs 3.1 crore for the Q1 in the previous year. For Q1 ending June 30, 2003, EBIDT stood at Rs 3.2 crore as compared to Rs 4.1 crore in corresponding quarter last year, a decrease of 22 percent.

For Q1 ending June 30, 2003, revenues from operations stood at Rs 18.7 crore, down 12 percent from Rs 21.3 crore in the preceding quarter ending March 31, 2003. EBIDT decreased by 36 percent in Q1, 2003 when compared to the preceding quarter. PAT for Q1 stood at Rs 2.5 crore as against Rs 4.1 crore in the preceding quarter, a decrease of 38 percent.

The consolidated revenue from operations for Q1 ending June 30, 2003 stood at Rs 48.6 crore as compared to Rs 59.8 crore in the corresponding quarter last year, down by 19 percent.

Speaking on the occasion, Sonata President & MD B Ramaswamy said, “Clearing of uncertainty owing to War and SARS has paved way for resumption of customer visits. The impact of this will be seen in the next few quarters”.

(CNS)