Sonata Q2 net up, declares 15% dividend

BANGALORE: Bangalore-based Sonata Software has reported a profit

after tax of Rs 5.4 crore for the quarter ended September 30, 1999, up from Rs

2.3 crore in the corresponding period the previous year, an increase of 130.68

per cent.

The board of directors has declared an interim dividend of 15 per cent. Total

revenue for the quarter went up to Rs 44 crore from Rs 28 crore, an increase of

59 per cent. The operating margin for the quarter went up 83 per cent to Rs 6.7

crore from Rs 3.6 crore. While the provision for depreciation was Rs 70 lakh

from Rs 40 lakh in the corresponding period last year and taxation was Rs 50

lakh against nil during the same period last year. Exports as a percentage of

total revenue were 44 per cent for the quarter.

For the half year ended September 30, 1999, the profit after tax increased by

122 per cent to Rs 9.7 crore from Rs 4.4 crore last year, while the total

revenue went up to Rs 80 crore from Rs 53 crore last year, an increase of 50 per

cent. The board adopted a policy of best practices on insider trading

incorporating SEBI guidelines. ``This step is a part of Sonata's commitment to

good corporate governance and greater transparency to the investors,'' said

President and Managing Director B. Ramaswamy.