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Poor performance of its European subsidiary, TUI Info Tec has impacted the third quarter results of Sonata Software. On a consolidated basis, Sonata Software reported an over 12 per cent decline in net profit to Rs 19.28 crore during the third quarter of the current fiscal, while its revenues grew 4 per cent to Rs 348.01 crore for the same period.
The European-based TUI Info Tec posted an 82.5 per cent decline in profits for the third quarter, while profits from Sonata Software's international IT services business was nearly flat at Rs 16.02 crore.
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