Financial Daily from THE HINDU group of publications
Tuesday, Apr 25, 2006
Financial Daily from THE HINDU group of publications Tuesday, Apr 25, 2006 |
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Corporate Results
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Software Info-Tech - Financial Performance Sonata net down 29 pc Our Bureau
Bangalore , April 24 Sonata Software has reported net profit of Rs 11.35 crore for 2005-06, a decline of 29 per cent over Rs 16.1 crore in the previous year. Revenues increased for the year by 54 per cent to Rs 507 crore from Rs 329.3 crore earlier. The board of directors have recommended a final dividend of 60 paise a share (60 per cent on par value of Re 1 each). Total dividend for the year stands at Re 1 a share (100 per cent on par value). The decline in net profit is mainly attributed to the write-off of exceptional items of Rs 18.38 crore (net of taxes) as one-time charges.These items were: Rs 9.39 crore invested in SpinAway eBusiness Solution Inc of the US and Rs 2.19 crore in Abisko Development Ltd Cyprus. During the year, the company settled through arbitration in the UK Rs 6.84 crore relating to professional charges.
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