Sonata Software's 13% Rise In Profits Fails To Impress Investors

Sonata Software’s three-session gainings streak was halted in early trade on Monday after the company posted its earnings for the March quarter.

What Happened: The company’s revenue from operations for the quarter stood at ₹1,913.5 crore, up 30.74% from the year-ago period. The company’s EBITDA for the period stood at ₹176.7 crore up 15% compared to ₹153.1 crore in the same quarter last year. Net profits for the review quarter stood at ₹113.8 crore up 13% from the ₹100.9 crore profit it booked in the March quarter of 2022.

See Also: What Is Reliance Jio's Share Price And How To Buy

However, the company’s performance on a quarter-over-quarter basis was not as good. This seems to have dampened investor sentiments. On a Quarter-on-Quarter basis, the company’s revenue fell 15% and net profits were down 3%. The company’s domestic business revenue dropped 22% QoQ to ₹1,383.4 crore.

Earnings per share for the quarter stood at ₹8.20. The company also declared a ₹8.75/share final dividend for the year ended March 2023. The company has announced a total dividend of ₹15.75/share in FY23 (April 2022- March 2023).

Price Action: Sonata’s share price was down 1.53% to trade at ₹861.50 in the early hours of trading on Monday.\

Do Not Miss: What Is Oyo Rooms’ Share Price And How To Buy

Market News and Data brought to you by Benzinga APIs

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: EquitiesDividendsMarketsTrading IdeasSonata Software