Sonata Software reported a slight increase in net profit for the second quarter ended September 30, with a 0.9% rise to ₹106.5 crore, compared to ₹105.6 crore in the previous quarter. However, the company, which offers a broad range of software and cloud services that support digital transformation for businesses and individuals, saw a 14% drop in revenue.
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As Donald Trump declared victory over Democrat Kamala Harris in the US presidential election, Chinese markets quickly reflected the jitters surrounding what might be another period of trade and technology clashes. On Wednesday, the offshore yuan dropped by over 1%, hitting its weakest point since August, while the CSI300 Index in Shanghai fell 0.5%.
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Sriharsha Majety, MD & Group CEO of Swiggy, is confident about strong growth and significant margin expansion in the food delivery business in the coming years, despite recent market share challenges. Rahul Bothra, CFO of Swiggy, said ₹4,500 crore out of the fundraising via the initial public offering will primarily support Swiggy's quick commerce growth.
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