Tag: itcompany

Shares of Sonata Software gained 11 percent on the BSE in Monday's intra-day trade amid heavy volumes. hitting a fresh 52-week high of Rs 753. Sonata Software breached its earlier 52-week high of Rs 689.95 which it touched on Friday, February 16, 2023. In the past month, Sonata Software has outperformed the market by surging 25 to 30 percent after the company reported a strong financial performance for the quarter that ended December 2022(Q3FY23). Sonata offers IT services (30 percent) and product licensing & deployment (70 percent). The company provides IT services to travel, retail, agri & commodities, and manufacturing and software vendors. The company is net debt free and has a healthy double-digit return ratio (with RoCE of over 30 percent). Sonata Software’s IT services dollar revenues grew 4.7 percent sequentially and 3.9 percent in constant currency (CC) terms, while it closed four large deals in the third quarter of FY23. Read more

The IT services major Tech Mahindra reported a 39.17 percent year-on-year (YoY) jump in its consolidated net profit at Rs 1,353.2 crore for the April-June period of the financial year 2021-22 (Q1FY22) as against Rs 972.3 crore posted in the corresponding quarter last year. The Company reported Rs 1,081.4 crore in the quarter ended March 2021 which rose by 25.13 percent. The IT services major reported a 4.8 percent quarter-on-quarter rise in consolidated revenues to Rs 10,198 crore for the reported quarter, which was slightly above analysts’ expectations. The consolidated revenue from operations in June 2021 quarter grew 11.98 percent YoY at Rs 10,197.6 crore. The company had posted revenue of Rs 9,106.3 crore in the same period a year ago. Its earnings before interest and tax were down 3.6 percent at Rs 1,545.3 crore versus Rs 1,603.7 crore and the margin was at 15.2 percent versus 16.5 percent, QoQ.The dollar revenue was up 4.1 percent at $1,383.6 million against $1,329.6 million. Read more