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Bangalore, Oct 14 Sonata Software Ltd reported a 81 per cent rise in consolidated net profits at Rs 21.63 crore for the quarter-ended September 2008 as compared to Rs 11.93 crore in corresponding period last year. Consolidated revenues for the quarter grew to Rs 418.67 crore as compared to Rs 342.2 crore in corresponding quarter last year.

The Sonata board declared an interim dividend of 50 paise a share (50 per cent on par value of Re 1). Following the results, Sonata shares gained 20 per cent on the BSE to close at Rs 21.40 on Tuesday.

“Our focus on travel vertical and outsourced product development provides better revenue visibility in this uncertain environment,” said Mr B. Ramaswamy, President and Managing Director, in a statement commenting on the results.

The company added five new clients during the quarter, while its cash reserves stood at Rs 108.93 crore. For the first half, the company’s consolidated net profits grew 52 per cent to Rs 39.45 crore, while revenues increased 20 per cent to Rs 824.29 crore.

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