Sonata recorded a marginal drop in sales for 3QFY01 of 2% on a QoQ basis. The company claims it has sacrificed growth rates to get quality projects. The operating margin has significantly jumped from about 20% to 29%. This is on account of about 13% drop in expenditure compared to the last quarter.
Operating Profit (EBDIT)
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Diluted number of shares
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Staff costs were 20% of the revenues while the operating expenses were about 50% of the revenues.
At a price of Rs 45, the stock is trading at a P/E multiple of 13.5 times its 3QFY01annualised earnings.
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