India's Sonata Software gains 6% as digital demand boosts Q3 results

Sonata Software

18/01/2022 04:46

** Shares of IT services provider  SOFT.NS  rise as much as
6.2% to 926 rupees, their highest since Nov. 30
    ** Co on Monday reported 82% jump in consol profit for Dec.
qtr  urn:newsml:reuters.com:*:nFWN2TW01U
    ** Co said it saw continued uptick in demand for digital
services with growth in both existing accounts and in its new
deal pipeline
    ** SOFT said its India business has continued to show robust
growth with shift to cloud and digital infrastructure
    ** Co added 11 new customers during the qtr
    ** Demand has grown multifold for IT services ranging from
cloud-computing, digital payment infrastructure to cybersecurity
during the pandemic
    ** India's top IT services providers too have flagged strong
demand outlook and deal pipeline after posting strong results in
Dec. qtr  urn:newsml:reuters.com:*:nL4N2TS31Z
    ** About 497,418 shares change hands vs 30-day avg of
181,135
    ** SOFT shares jumped 122% in 2021 after gaining ~ 28% in
2020

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))