Sonata Software rallies 9%, hits new high post June quarter results

The management said it see the demand situation as being extremely satisfactory with growth in existing accounts and new deal pipeline

Shares of Sonata Software rallied 9 per cent to Rs 884.05, also its new high on the BSE in intra-day trade on Thursday after the company reported a strong 74 per cent year-on-year (YoY) jump in consolidated net profit at Rs 86.7 crore for the first quarter of the financial year 2021-22 (Q1FY22). On a sequential basis, the profit grew by 4 per cent from Rs 83.1 crore in Q4FY21.

The company’s consolidated revenues grew 33 per cent YoY and 18 per cent quarter-on-quarter (QoQ) to Rs 1,268 crore. Ebitda (earnings before interest, taxes, depreciation, and amortisation) margin improved 165 basis