Within six months of joining the mid-tier IT company Sonata Software, its CEO and Managing Director, Mr Sanjay Viswanathan, has resigned from the post, according to a press statement.
Mr Srikar Reddy Deputy Managing Director and COO, has now been appointed Managing Director.
Posts Rs 6.8-cr loss
The mid-tier company, which also released its quarterly results today, said it has posted a loss of Rs. 6.87 crore for the third quarter. For the same quarter during the previous year, Sonata posted a net profit of Rs 19.28 crore. Revenues for the quarter rose 51.21 per cent to Rs 526.25 crore.