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Sify posted 10 per cent revenue growth during quarter-ended September 2017; profits grew 29 per cent year-on-year

December 06, 2017

Sify Technologies announced its consolidated results for the second quarter of fiscal year 2017-18. The revenue for the quarter under consideration stood at Rs 4.84 billion, an increase of 10 per cent over the same quarter in 2016. The net profits increased by 29 per cent during the same period and stood at Rs 203 million during quarter-ended September 2017. The EBITDA for the quarter stood at Rs 716 million, an increase of 13 per cent over the quarter-ended September 2016. The company’s cash balance for the quarter stood at Rs 2.38 billion.

Business highlights

For telecom centric services, revenue from data and managed services grew by 10 per cent between quarter ended September 2016 and the corresponding quarter in 2017. In addition, revenue from data centre-centric IT services grew by 24 per cent over the same period.

Sify has signed 18 new clients for data cantre-centric IT services. Further, its data network has reached 1,550 cities. The company’s hyper scale network now connects 45 data centres and network nodes along with 6 private and public cloud nodes.

Mr. Raju Vegesna, Chairman, Sify said, “We have done well in this quarter despite the challenges faced by most Indian businesses due to the transition to the new tax regime. This reinforces our belief that the Indian IT market is on an upswing, and we remain determined to exploit the resulting opportunities. Our products and services are being validated on multiple fronts. Our engagements with the Indian Enterprises validate the resilience of our products and services while those with the Government validate our capability to implement on a large scale.”

Mr. Kamal Nath, CEO, Sify said, "Last quarter, we had announced our Vertical go-to-market strategy across all our business segments. I am happy to share that a mix of our Vertical strategy and our unique positioning as an ICT Services Provider and Integration partner for our clients, has resulted in sustained growth in order book, revenue and profitability. Our business-outcome oriented usage models for key Verticals, over and above our Services capabilities, will be a significant differentiator in our growth journey going forward.”

 

 
 

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