Sonata Software Q1 net rises 39%

By agencies   |   Thursday, 28 July 2005, 07:00 Hrs
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BANGALORE: Sonata Software reported revenues of $6.84 million during the first quarter and a net profit of $1.16 million. This amounts to a sequential rise of 11 percent in revenues and a 13 percent rise in net profits.

Year-on-year revenues for the quarter rose 48 percent while net profits rose 39 percent.

Sonata Software Consolidated revenues were $19.43 million for the quarter ended June 30 with a net profit of $1.12 million, a sequential rise of 5 percent in revenues and 9 percent in profits. Year-on-year, consolidated revenues grew 8 percent while profits grew 14 percent.

B. Ramaswamy, President and MD, said that, "Growth was a result of the sharp focus on building successful partnerships and the opportunity to work on areas that add business value to customers is exciting."

The company added five new clients during the quarter with Europe contributing 58 percent to total revenues and the U.S. the rest.

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