Sonata net up 4 percent; revenue dips 13 percent
Monday - Apr 19, 2010, 07:29pm (GMT+5.5)
Bangalore, (IANS) Leading Indian IT consulting and services firm Sonata Software posted net profit of Rs.80 crore for fiscal 2010, registering four percent annual growth despite a 13 percent revenue decline to Rs.1,380 crore in the same period.
In a regulatory filing Monday, the Bangalore-based firm said earnings before interest, taxes, depreciation and amortization (Ebidta) also grew by four percent year-on-year (YoY) in the fiscal under review to Rs.171 crore (Rs.1.71 billion).
"Our annual results reflect our focus on adding value to our customers through innovation. Our endeavour to enhance our solutions through technology and domain skills has helped us to sustain growth in a difficult year," Sonata managing director B. Ramaswamy said in a statement here later.
Export revenue declined to Rs.880 crore from Rs.953 crore a year ago due to global recession, while slowdown in the Indian economy decreased domestic revenue to Rs.501 crore from Rs.638 crore in the same period.
For the fourth quarter (January-March) of FY 2010, net profit increased marginally to Rs.19 crore from Rs.17 crore, but revenue declined to Rs.319 crore from Rs.368 crore.
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