Sonata Software announced that its wholly owned subsidiary Sonata Software North America Inc. has signed an agreement with Treeni Sustainability Solutions Inc., a Delaware (US) based Company (hereinafter referred to as “Treeni”) on 20 May, 2020 to acquire upto 24% stake in Treeni.

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Net profit of Sonata Software declined 5.45% to Rs 61.79 crore in the quarter ended March 2020 as against Rs 65.35 crore during the previous quarter ended March 2019. Sales rose 11.15% to Rs 928.68 crore in the quarter ended March 2020 as against Rs 835.55 crore during the previous quarter ended March 2019.

For the full year,net profit rose 11.10% to Rs 276.93 crore in the year ended March 2020 as against Rs 249.26 crore during the previous year ended March 2019. Sales rose 26.42% to Rs 3743.26 crore in the year ended March 2020 as against Rs 2960.90 crore during the previous year ended March 2019.

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Sonata Software will hold a meeting of the Board of Directors of the Company on 11 May 2020.

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Sonata Software announced that due to the COVID-19 situation one of its large clients had to temporarily suspend their operations thus affecting a majority of the company's services to them. The company believes this will in the immediate future have a significant negative impact on its profits by up to 40%. Currently, the company expects this to affect its Q1 and Q2 performance for FY 21.

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