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Sonata Software Plunges 7%; BSE IT Index Down 0.4%
Thu, 1 Aug 12:16

Sonata Software Plunges 7%; BSE IT Index Down 0.4%Image source: ThinkNeo/www.istockphoto.com

Sonata Software share price has plunged 7% and is presently trading at Rs 684.5.

Meanwhile, the BSE IT index is at 41,523.9 (down 0.4%).

Among the top losers in the BSE IT index today are Birlasoft (down 3.5%) and INDIAMART INTERMESH (down 3.3%).

Firstsource Solutions (up 9.6%) and Eclerx Services (up 1.4%) are among the top gainers today.

Over the last one year, Sonata Software has moved up from Rs 527.8 to Rs 684.5, registering a gain of Rs 156.8 (up 29.7%).

On the other hand, the BSE IT index has moved up from 30,276.6 to 41,523.9, registering a gain of 37.1% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 183.7%), Firstsource Solutions (up 107.3%) and INFIBEAM AVENUES (up 103.3%).

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What About the Benchmark Indices?

The BSE Sensex is at 81,804.0 (up 0.1%).

The top gainers among the BSE Sensex today are Power Grid Corp. (up 3.1%) and NTPC (up 1.5%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,990.6 (up 0.2%). Coal India and Power Grid Corp. are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,527.7 to 81,804.0, registering a gain of 15,276.3 points (up 23.0%).

Sonata Software Financial Update...

Sonata Software net profit fell 12.1% YoY to Rs 1,056 million for the quarter ended June 2024, compared to a profit of Rs 1,201 million a year ago. Net sales rose 25.4% to Rs 25,274 million during the period as against Rs 20,155 million in April-June 2023.

For the year ended March 2024, Sonata Software reported 31.7% decrease in net profit to Rs 3,085 million compared to net profit of Rs 4,519 million during FY23. Revenue of the company grew 15.6% to Rs 86,131 million during FY24.

The current Price to earnings ratio of Sonata Software, based on rolling 12 month earnings, stands at 65.3.


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