Following the release of Sonata Software’s Q2FY24 results report, the IT services provider’s shares increased by around 1% at the NSE’s opening on October 26. The stock was up about 2.24 percent from October 25’s close to Rs 1,072.40 around 10 am.
Sonata Software posted a consolidated profit of Rs 124.2 crore for the July–September quarter in a regulatory filing, up 3.4 percent from the prior quarter. The quarter’s operating revenue of Rs 1,912.6 crore decreased 5.1% on a sequential basis. Additionally, the company declared an interim dividend of Rs 7 per share for the current fiscal year and gained board permission for a 1:1 bonus issue.
CEO Samir Dhir told reporters that whereas the majority of his industry colleagues had reported flat profits, they had risen at a rate of 5% quarter over quarter. The company also aspires to generate $1.5 billion in revenue by the end of FY2026, and they are on schedule to do so. In the upcoming years, our growth rate will vary from mid-teens to mid-twenties. bulk of the revenue growth coming from organic sources,” he stated.
Bangalore-based Sonata Software, with a global presence across US, UK, India, Australia, and New Zealand, provides software solutions across market segments – from media to healthcare and life sciences.
Sonata Software, a Bangalore-based company, offers software solutions for a variety of market sectors, including life sciences, healthcare and media. The organization is present in the New Zealand, Australia, India, UK and the US.
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