Sonata Software soars on bonus issue proposal

Sonata Software jumped 9.39% to Rs 745.70 after the company said that its board, at the meeting scheduled on Monday (25 July 2022), may consider proposal for issue of bonus shares of the company.

On the same day, the board will also consider and approve standalone as well as consolidated unaudited financial results of the company for the quarter 30 June 2022.

On the BSE, over 0.16 lakh shares were traded in the counter so far compared with average daily volumes of 3,948 shares in the past two weeks.

Sonata Software provides IT consulting, product engineering services, application development, application management, managed testing, business intelligence, infrastructure management, packaged applications, and travel solutions. The company derives most of its services revenue from overseas, with the US and Europe accounting for major shares of revenues.

The company's consolidated net profit rose by 3.3% to Rs 100.90 crore despite a 21.2% fall in net sales to Rs 1,463.63 crore in Q4 FY22 over Q3 FY22.

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