PERFORMANCE HIGHLIGHTS:
Revenue for the quarter was Rs 645.1 crore, a growth of 23% over the same quarter last year.
EBITDA for the quarter was Rs 145.4 crore, an increase of 26% over the same quarter last year.
Profit before tax for the quarter was Rs 44 crore, an increase of 65% over the same quarter last year.
Profit after tax for the quarter was INR 329 Million, an increase of 91% over the same quarter last year.
CAPEX during the quarter was Rs 91.7 crore.
Cash balance at the end of the quarter was Rs 351.5 crore.
Chennai, NFAPost: Leading technology company Sify Technologies registered revenue for the first quarter of fiscal 2022 at Rs 645.1 crore, a growth of 23% over the same quarter last year. The company’s profit before tax for the quarter is at Rs 44 crore, registering an increase of 65% over the same quarter last year.
While the company’s CAPEX during the quarter was Rs 91.7 crore, Sify stated EBITDA for the quarter is at Rs 145.4 crore, an increase of 26% over the same quarter last year.
Commenting on the company’s performance, Sify Technologies Chairman Raju Vegesna said lessons learned from dealing with the first wave of the pandemic have stood the company in good stead as it continue to provide mission-critical ICT services in a challenging environment.
“India has quickly bounced back from the second with Enterprises slowly returning to at-office business. Mid-sized business, which bore the brunt of the pandemic, are becoming more active in the market for automation solutions. Sify is proud to have played a small role in helping Indian Enterprises to sustain their operations and become more resilient,” said Raju Vegesna/
This year, Raju Vegesna said critical requirements like the National data policy and continued remote access will push security to the top of the priority list for Enterprises. “This is also expected to accelerate the interest in data center space on a pan-India basis,” he said.
Sify Technologies CEO Kamal Nath said with industries and people steadily returning to work, digitalization decisions are being accelerated.
“The trends of the previous quarters continue to be relevant, resulting in sustained interest in our Cloud@core portfolio of services. Work from anywhere, migration to hosted DC and hybrid cloud platform, strengthening of disaster recovery plans to enable business continuity, application modernization – all these market trends are reflected in our current customer engagements,” said Kamal Nath.
Kamal Nath said data center colocation business is one of the fastest growing segments in India. “It is led by Hyperscale Cloud Providers, followed by Enterprises and supporting telecommunications players. We expect this to drive our future growth, alongside Cloud, Network and Digital services business,” said Kamal Nath.
Sify Technologies CFO M P Vijay Kumar said the operating performance has been stable. “We continue to invest in expansion of our data centers, network connectivity and digital services. We will stay focused on our cost efficiency and liquidity management, given that the economic recovery is still regaining lost ground due to the pandemic,” said M P Vijay Kumar.
Cash balance at the end of the quarter was Rs 351.5 crore.
