Sonata Software Q2 net profit up 19%

Sonata Software Q2 net profit up 19%

Sonata Software Limited, a global IT services and technology solutions provider, on Monday reported 19% growth in the second quarter net profit at Rs 45.36 crore, compared with Rs 37.96 crore in the same quarter last year.

The company's total revenue stood at Rs 438 crore, compared with Rs 509 crore in the year-ago period. Sonata's International IT services revenues stood at Rs 235 crore, an increase of 12% compared with Rs 209 crore in the year-ago period. The company also declared interim dividend of Rs 3.75 per share.

Sonata also announced the appointment of Vikas Gurugunti as the Chief Operating Officer. Vikas joins Sonata from DXC Technologies and was heading the company's Retail and CPG business in the US. He will be based out of the US, the company release said.

Srikar Reddy, Managing Director and CEO of the Company said, "Strong growth in the International IT services business, based on our proprietary Platformation solutions approach which leverages our platform IP and capability to enable digital transformation for our customers, powered our first half performance."

Its consolidated revenuesin the second quarter stood at Rs 427 crore, a decline of 33% Q-o-Q, while its international IT services witness revenues at Rs 235 crore, growth of 11% q-Q