Sonata Software's net profit up 20 p.c Q-o-Q

BANGALORE, INDIA: Indian Software solutions company Sonata Software announced on Wednesday that its consolidated net profit had a sequential growth of 20 per cent.

While the company registered a net profit of Rs. 21.35 crore, the revenue stood at Rs. 347.33 crore.

Compared to the year-ago quarter there is a decline in profit as well as revenue. Sonata had a net profit of Rs. 21.63 crore and revenue of Rs. 423.64 crore in the same quarter last year.

While the earnings per share annualized at Rs. 8.12 up 20 per cent Q-o-Q, the company declared an interim dividend of Re. 0.90 per share (90 per cent on par value of Re. 1).

Commenting on the results, B. Ramaswamy, president and managing director, Sonata Software said, “Over the last few months the challenging business environment has put to test the resilience of the organization and its business model. That we have been able to emerge positively, provides us a strong impetus,”

Sonata also said it is setting up a Business Intelligence (BI) Center of Excellence for a leading national provider of integrated data, voice and wireless communications in the US. This center will enable the customer to provide responsive, optimum and cost effective services using Business Intelligence as a tool to drive organizational efficiencies and sales.

Also it is building a social networking application for a fashion industry enterprise. The application will run on iPhone and other such high-end mobile devices supported by a backend server.