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Sify announces results for quarter-ended June 2017; profits grew 39 per cent year-on-year

July 25, 2017

Sify Technologies has announced its consolidated results for the first quarter of fiscal year 2017-18.

The revenue for the quarter under consideration stood at Rs 4.5 billion, an increase of 9 per cent over the same quarter in 2016. The net profits increased by 39 per cent during the same period and stood at Rs 174 million during quarter-ended June 2017. The EBITDA for the quarter stood at Rs 699 million, an increase of 12 per cent over the quarter-ended June 2016.

Business highlights

For telecom centric services, revenue from data business grew by 9 per cent between quarter ended June 2016 and the corresponding quarter in 2017. However, the overall revenue from telecom centric services decreased by 5 per cent during the same period primarily due to a reduction in revenue from India voice termination business.

During the reported quarter, Sify signed up approximately 200 new clients for telecom centric services. Further, its data network reached 1,500 cities. Sify also completely upgraded its international PoPs and capacities in Europe and Asia to deliver the next generation of scale and services for its global enterprise customers.  As part of a multi-city hyper-scale network rollout, the company’s Mumbai network was upgraded to 100 G level to support scalability for cloud and data center interconnect services.

Meanwhile, revenue from data center centric IT services grew by 31 per cent between quarter-ended June 2016 and the corresponding quarter in 2017.

Commenting on the company’s performance, Raju Vegesna, Chairman, Sify stated, “Our continuing good results are a validation of the strategic direction we have set for ourselves. We had made clear progress on all fronts, aided by both right solutions and consistent execution. The Sify 3.0 vision of an integrated ICT player has been realised. We owe our continuing growth to the unwavering focus of our team members in expanding our footprint in India and strengthening our services across the world. Our involvement in Digital India initiatives and various digital transformation projects continues to be a key growth driver. The government’s resolve to aggressively adopt automation is creating multiple opportunities for our services. Successful delivery of such large government projects will help build equity with Enterprise customers for our projects”.

Kamal Nath, CEO, stated, "We are truly excited that our Data Center centric IT services are now generating revenues almost on par with our Telecom business. Over the years, we have enhanced our business and technology capabilities, re-oriented our business insights and developed a strong vertical-focussed sales team.

During the quarter, the company saw a significant increase in its order book related to IT transformation projects. Deeper engagement with the government is helping Sify position itself better on government-initiated automation projects.

Going forward, the company will present its business results under the following categories -

a)    Telecom centric services comprising of managed data services on its domestic and international network and termination of voice calls over internet protocol into its domestic and international partners’ network

b)    Data Center centric IT services comprising of managed colocation services at Sify’s six Tier 3 data centers, multi-flavoured cloud services, application-led services and technology Integration-led services.

 

 
 

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