India's Sonata Software falls most since 2001 on Q4 profit drop

Sonata Software

08/05/2024 05:34

** Shares of India's Sonata Software  SOFT.NS  fall as much
14.6%, lowest since Oct. 2023 at 545.05 rupees
    ** Stock sees worst intra-day pct fall since Oct 2001
    ** IT services co reports 8% fall in adjusted profit at its
key international services business, 3% fall in overall PAT
before exceptional items
    ** Decisions on large deals leading to delays and associated
costs resulting in degrowth both in international revenue USD
terms and consolidated PAT, co says
    ** Including day's losses, stock down 25.2% YTD vs 6.2% drop
in IT index  .NIFTYIT  



 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))