Sonata Software today reported 1 per cent dip in consolidated net profit at Rs 40.4 crore for the fourth quarter ended March 31, 2017.
The company said that the dip was on account of the continued investments on IP (Intellectual Property) development, go-to-market initiatives and business development activities.
The revenue from operations rose 31 per cent to Rs 708.3 crore during the just-ended quarter.
"We continue to focus on growth and investments despite difficult market conditions, as we believe that it is important to capture a strong position in the IT Solutions space by digital transformation...," Srikar Reddy, Managing Director and CEO of the company said in a statement.
For the full year ended March 31, 2017, the net profit declined by 3 per cent to Rs 153.7 crore against Rs 158.6 crore in the previous financial year.
During this period, the consolidated revenue from operation grew 30 per cent to Rs 2,521.1 crore, against Rs 1,940.5 crore in the previous fiscal.
"The sustained strong revenue growth ahead of the industry is a reflection of the significant investments we have made in the recent years on acquiring and building differentiated IP and platforms for our focus industry verticals of retail, distribution, travel and software solutions," Reddy added.
Disclaimer: No Business Standard Journalist was involved in creation of this content
