Shares of Sonata Software Ltd. surged 7% to a day’s high of Rs 678.95 on 29th August after announcing a multi-year, multi-million dollar IT outsourcing contract with a US-based healthcare and wellness company.

The organization’s mission is to provide personalized, quality care to the specific needs of vulnerable patients and at-risk communities in complex clinical settings and other behavioural health environments.

It will help customers in achieving the two biggest objectives: optimized IT budgets, cost efficiencies by the betterment of systems and engineering methods, and modernization of their technology by leveraging enterprise data, AI, and hyper-automation across patient-facing systems and back-office operations.

Samir Dhir, MD and CEO at Sonata Software, stated that this significant deal highlights their commitment to using deep engineering expertise to solve complex problems for Healthcare and Lifesciences clients. It also showcases their unique capabilities in the healthcare sector, helping them succeed in a competitive market.

The Bengaluru-based company boasts a significant global presence, particularly in the US, UK, European countries, APAC region, and ANZ regions.

For the June quarter, the company reported a consolidated profit of Rs 105.60 crore, a 4.3% sequential decline and a 12% drop YoY. Revenue for the quarter was Rs 2,527.40 crore, driven by BFSI and TMT sectors. The company secured three large deals and has 49 more in the pipeline.

Stock has surged over 20% in the past 3 months, outperforming the Nifty 50’s 15% rise.

At 11:41 AM, the shares of Sonata Software were trading 4.88% higher at Rs 654.95 on NSE.

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