Sonata Software Q2 results: Net profit up 59% to Rs 91 cr

PUNE: Sonata Software reported a net profit of Rs 91.2 crore, up 59 per cent and revenues of Rs 963.2 crore, up 20 per cent for the quarter ended 30 September, 2021. The international IT services business reported a 54 per cent increase in profit at Rs 67.3 crore, and revenues of Rs 360.8 crore, up 25 per cent. The domestic products and services business reported a profit of Rs 23.9 crore, up 76 per cent and revenues of Rs 605.5 crore, up 16 per cent.

“Our overall strategy of building digital enterprises by creating platforms through our unique Platformation methodology has continued to drive our growth and differentiate ourselves. We continue to invest in creating a stronger organization with investments, in creating world class competencies aligned to Platformation,” said Srikar Reddy, Managing Director & CEO, Sonata.

The company has declared an interim dividend of Rs 8 per share.

“We see the demand situation across the board for digital services being very promising with growth in existing accounts and new deal pipeline. In view of super high demand for talent we are executing on a comprehensive talent plan for digital skills, including a range of initiatives on improving employee engagement and retention, creating capacity in advance and expanding our delivery centers with near shore delivery centers for US and Europe,” he said.

Reddy said that the India business continued to show robust growth with the shift to cloud and digital infrastructure.

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