Sonata Software Q2 profit jumps 59% to Rs 91 cr

IT company Sonata Software on Tuesday posted a 59 per cent jump in consolidated profit to Rs 91.17 crore in the second quarter ended on September 30, 2021.

The company had recorded a profit of Rs 57.2 crore in the same period a year ago.

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"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," Sonata Software managing director and CEO Srikar Reddy said in a statement.

Consolidated revenue from operations of Sonata Software increased by 19.83 per cent to Rs 963.18 crore during the reported quarter from Rs 803.77 crore in the corresponding quarter of 2020-21.

"We see the demand situation across the board for digital services being very promising with growth in existing accounts and new deal pipeline," Reddy said.

The international IT services revenues of the company grew by 25 per cent year-on-year (YoY) to Rs 360.8 crore and domestic product and services increased by 16 per cent to Rs 605.5 crore.

Profit after tax (PAT) from international services of the company grew by 54 per cent YoY to Rs 67.3 crore and domestic PAT grew by 76 per cent to Rs 23.9 crore.