August 17, 2016 5:47 pm | Updated 2 months ago.
Sonata Software, an IT services company reported that with the help of business from India, the quarter 1 revenue increased by 25%. Their total revenue also increased from Rs 540.9 crore to Rs 677.8 crore, for the quarter ended March.
Sonata Software receives almost two-thirds of its total revenues from the business made from the Indian market. Revenue from the Indian market grew by 35.6% to Rs 501.31 crore while revenue from its international IT services increased by 4% to Rs 195.7 crore. The international business was impacted by Brexit, with the contribution of revenue from UK falling to about 10-15% from 20%.
Chief executive Srikar Reddy said, “The quarter saw good top line performance across business divisions. This is a result of our execution of our IP led strategy of being a digital transformation partner across all our verticals and focus on digital technologies”.
However, due to increased expenses due to salary hikes of employees and other finance costs, the net profit fell by 3.6% to Rs 36.8 crore.
Date of Publication: 08 / 08 / 2016