India's Sonata Software jumps on rise in Sept-qtr earnings

Sonata Software

26/10/2023 05:56

** Shares of Sonata Software  SOFT.NS  rise as much as 5.07%
to 1,102.10 rupees apiece in a weak market
    ** Cloud and data modernisation company posts nearly 10% Y/Y
rise in consolidated net profit to 1.24 bln rupees ($14.90 mln)
    ** Rev from operations jumps 28% to 19.13 bln rupees
    ** SOFT approves interim dividend of 7 rupees per share for
FY24; record date for dividend payment set for Nov. 7
    ** Ramp-up in large deals won in retail and banking,
financial services and insurance (BFSI) segment to provide
growth visibility, says HDFC Securities 
    ** Retains "add" rating with unchanged TP of 1,190 rupees
    ** Trading volume is 706,665 shares as of 10:14 a.m. IST,
nearly thrice the 30-day avg - LSEG data
    ** SOFT shares up 94% in 2023, including today's gains


($1 = 83.2325 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))