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Sonata Software Q2 net profit, income drops
By siliconindia
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Monday, 13 October 2003, 19:30 IST
MUMBAI: Sonata Software Ltd has posted a lower net profit of Rs 2.47 crore on a consolidated basis in second quarter ended September 30, compared to Rs 3.65 crore posted during the same period a year ago.
The company's board of directors has recommended an interim divided of 20 per cent, Sonata Software informed the Stock Exchange, Mumbai on Saturday.
Sonata Software's total income fell to Rs 49.39 crore during the quarter under review, as against Rs 63.54 crore recorded during the comparative period of the previous fiscal, it said.
On a standalone basis, the software company has posted a lower net profit of Rs 2.66 crore, compared to Rs 3.88 crore posted in Q2 of 2002, it said, adding, total income decreased to Rs 15.60 crore from Rs 21.32 crore during the reporting quarter.
Sonata Software president and managing director B Ramaswamy said the company's marketing and client acquisition efforts have begun to show encouraging results. "This should be reflecting in the results of the coming quarters," he said.