PUNE: Sonata Software’s net profit rose 18% in the third quarter of FY20 to Rs 75.9 crore, while revenue climbed 47% to Rs 1,236.90 crore over the corresponding period last year.
The higher growth in revenue was due to a single large transaction in the domestic products and services business, the company said.
Srikar Reddy, Managing Director and CEO, Sonata Software said, “The continued growth in revenues and profits have been the result of our focus on being a digital transformation partner through our unique proprietary Platformation methodology and our strategy of IP-led differentiation, focus on verticals like retail, distribution, consumer packaged goods, independent software vendors, commodity and service industries and investment in new technologies.”
“We believe Platformation is now mainstream for Sonata as we continue to see increased traction in the market with addition of new marquee clients and strong pipeline,” he added.
The company’s international IT services business reported revenues of Rs 330 crore, up 6% sequentially, and profit of Rs 58 crore. The domestic business grew 129% sequentially, with revenue of Rs 912 crore and profit of Rs 18 crore.
Source: Economic Times
