Sonata Software reported a slight increase in net profit for the second quarter ended September 30, with a 0.9% rise to ₹106.5 crore, compared to ₹105.6 crore in the previous quarter.

However, the company, which offers a broad range of software
and cloud services that support digital transformation for businesses and
individuals, saw a 14% drop in revenue, which came in at ₹2,169.8 crore, down from ₹2,527.4 crore in the June quarter.

In international markets, the company's revenue rose to ₹707.9 crore, compared with ₹687.8 crore in the prior quarter.

Sonata posted a revenue of ₹1,461.9 crore for the domestic business, its biggest revenue generating segment, for the quarter compared with ₹1,849.4 in the last quarter.

The company aims to reach a revenue of $1.5 billion by fiscal 2025, with a target of achieving international EBITDA at low 20s.

Earnings before interest and tax (EBIT) also showed a marginal increase, rising 1.1% to ₹144.3 crore from ₹142.8 crore in the previous quarter.

The company’s margin improved to 6.7%, up from 5.7% in the prior quarter.

Shares of Sonata Software ended 4.4% higher at ₹627.05 on Wednesday.

Published On -November 6, 2024, 5:43:41 PM IST.

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