Shares of Sonata Software gained nearly 1 percent at open on October 26 on the NSE after the IT services provider announced its Q2FY24 earnings. By 10 am, the stock was trading at Rs 1,072.40, nearly 2.24 percent higher than close on October 25.
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In a regulatory filing, Sonata Software reported a consolidated profit of Rs 124.2 crore for July-September period, a 3.4 percent gain over the previous quarter. Revenue from operations during the quarter slipped by 5.1 percent sequentially to Rs 1,912.6 crore. The company also announced an interim dividend of Rs 7 per share for current financial year and has received board approval for bonus issue in the ratio of 1:1.
In an interaction with CNBC-TV18, Sonata Software's CEO Samir Dhir said that while most of the industry peers have given flattish results, they have grown at 5 percent QoQ. By the end of FY2026, the company also aims to clock in $1.5 billion revenue and they are on track to achieving it. "We will grow at high-teen to mid-twenties range in the coming years. With most Of the revenue growth being organic," he said.
Also read: Accumulate Sonata Software; target of Rs 1148: KR Choksey
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.
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