Loss due to one-time hit of contingent payment: Sonata CFO

Despite having an industry-leading revenue growth, Sonata Software incurred losses due to an one-time exceptional hit in the third quarter, said CFO Jagannathan Chakravarthi Narasimhan.

Facing a contingent consideration related to its recent acquisitions, Sonata Software this week reported a net loss of Rs 46 crore in the December quarter of FY24. In the September quarter, the IT firm reported a net income of Rs 124 crore. This was despite its Q3 revenue increasing by 30% quarter on quarter (QoQ) to Rs 2,493 crore.