Sonata Software net up 159 percent

Bangalore, May 26 (IANS) Leading IT services firm Sonata Software Ltd has posted a consolidated net profit of Rs.78 crore for fiscal 2013-14, registering a whopping 159 percent year-on-year (YoY) growth.

"Consolidated revenue for fiscal under review grew 19 percent YoY to Rs.1,566 crore and earnings before income tax, depreciation and amortization (Ebitda) was up 97 percent to Rs.117 crore," the city-based company said in a statement Monday.

Revenue from international IT services increased 45 percent YoY to Rs.484 crore for the fiscal. Revenue from domestic operations, however, grew 11 percent YoY to Rs.1,085 crore. Net profit from IT services shot up a whopping 184 percent YoY to Rs.58 crore and 104 percent YoY to Rs.19 crore from domestic operations. The company added 21 customers during the fiscal under review.

"The results reflect our strategy to focus on select verticals and deliver customer value through domain expertise. We believe that working with key technology partners will sustain our growth momentum," Sonata chief executive Srikar Reddy said.

With domain expertise in product engineering and professional consulting services, the company has alliances with global IT firms such as Microsoft, SAP, Oracle, IBM, HP, hybris, TIBCO and Kony.