Sonata registers lower Q3 net
28 Jan 2004
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Bangalore: Sonata Software Ltd has reported a lower net profit of Rs 2.86 crore for the third quarter ended December 31, 2003, as against a net of Rs 4.37 crore in the corresponding period last year. Total income for the quarter stood at Rs 16.77 crore (Rs 22.35 crore). On a sequential basis, net profits and total income grew by about 10 and 7.5 per cent respectively.
B. Ramaswamy, president and managing director, Sonata said, "With offshore providing a strategic thrust to an increasing number of companies, Sonata is focusing on customer segments which are looking for reliable partners. This has resulted in significant customer acquisitions."
For the nine months ended December 31, 2003, net profits stood at Rs 8 crore as against Rs 11.4 crore in corresponding period last year. Total income was lower at Rs 51.1 crore ( Rs 63.39 crore). The company added 14 new clients in the first nine months and its revenues from Europe accounted for 60 per cent with the rest coming from the US.
