Sonata Software net dips 64 percent in second quarter
November 4th, 2011 - 9:38 pm ICT by IANSBangalore, Nov 4 (IANS) Leading IT consulting and services firm Sonata Software Ltd reported consolidated net profit of Rs.9 crore for the second quarter (July-Sep) of this fiscal (2011-12) as against Rs.25 crore in same period of last fiscal (2010-11), posting a steep decline of 64 percent year-on-year (YoY).
In a regulatory filing Friday, the Bangalore-based company said consolidated revenue for the quarter under review (Q2) too declined though marginally (1.5 percent YoY) to Rs.385 crore from Rs.391 crore like period year ago.
On stand-alone basis too, net profit plunged 78 percent to Rs.3.4 crore from Rs.15.2 crore in same period year ago and revenue to Rs.54 crore from Rs.66 crore in the corresponding period, a decrease of 18 percent YoY.
As a result, the company’s consolidated earnings per share (EPS) dipped to Rs.3.44 from Rs.9.52 on annualized basis. As stand-alone, EPS slumped to Rs.1.28 from Rs.5.78 on annualized basis. The face value of the company’s share is Re.1.
Owing to lower profits and need to invest in building the sales engine, the company declared an interim dividend of 50 percent per share.
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Tags: consolidated earnings, consolidated revenue, crore, dips, earnings per share, eps, face value, interim dividend, net profit, profits, q2, rs 1, second quarter, sonata, sonata software ltd, steep decline, yoy