- Revenue for the quarter was Rs 5.26 billion, a decrease of 5 per cent over the same quarter last year.
- EBITDA for the quarter was Rs 1.15 billion, an increase of 32 per cent over the same quarter last year.
- Profit before tax for the quarter was Rs 266 million, a decrease of 17 per cent over the same quarter last year. Increase in profit before tax was 52 per cent excluding impact of interest income of Rs 146 million last year on tax settlement recognised on receipt basis.
- Profit after tax for the quarter was Rs 172 million, a decrease of 20 per cent over the same quarter last year. Increase in profit after tax was 45 per cent excluding post tax impact of interest income of Rs 146 Million last year on tax settlement recognised on receipt basis.
- CAPEX during the quarter was Rs 321 Million.
- Cash balance at the end of the quarter was Rs 3.57 billion.
Commenting on the development, Raju Vegesna, Chairman, Sify, said, “As the world comes to terms with the new normal, it is becoming increasing clear that investment in business continuity and highly automated processes is no longer an option. During this period, we have benefited from our ongoing efforts to automate a majority of our Network, Data Center and service escalation processes. Our services, having stood the test of this pandemic, are now more relevant than ever in a rapidly evolving IT landscape. True to our business promise, I would like to assure our clients that we will continue to extend all support in keeping them ahead.”
Meanwhile, Kamal Nath, CEO, Sify, said, “Over the last quarter, we, along with our customers have learned to adapt to new modes of doing businesses. Our “Cloud@core” products and services are emerging as the most relevant to the altered ground realities. Previously cloud hostile and cloud sceptical customers have opened up conversations about cloud adoption to de-risk their dependency on on-premise IT. Our cloud portfolio, together with our cloud adjacent Data Centers are the perfect solution for customers looking for quicker adoption of Hybrid IT.”
Further, M P Vijay Kumar, CFO, Sify, said, “The operating performance has been good despite the challenges of the pandemic. We continue to stay focused on ensuring liquidity and fiscal discipline. We will continue to exercise caution on our Capex plans and making aggressive curbs on discretionary spending for the remainder of the year, while investing more on people, tools and our digital transformation capabilities. Cash balance at the end of the quarter was INR 3568 Million.”
- Revenue from data centre centric IT Services grew 5 per cent over the same quarter last year.
- Segment-wise, revenue from data centre services and cloud and managed services grew 49 per cent and 42 per cent respectively, while revenue from applications integration services and technology integration services fell by 16 per cent and 42 per cent respectively.
- Revenue from network centric services fell by 12 per cent over the same quarter last year.
- Segment-wise, revenue from data connectivity services grew 1 per cent while revenue from the Voice business fell by 42 per cent.
The pandemic has accelerated the primary growth drivers in the market for cloud adoption, led by digital initiatives and transformation. This trend is triggering movement of workloads from on-premise data centres to hyperscale public cloud and hosted private cloud in varied degrees, based on the digital objectives of the enterprise. This results in transformation of the traditional network architecture, and transformation at the edge which connects the end user. The need for digital services like analytics, data lakes, IoT, etc are shifting the balance to adoption of hyperscale public cloud vs private cloud. Collectively, these trends are generating opportunities for full scale cloud, DC and network service providers with digital services skills.
- Customers choosing Sify for migration of their on-premise data centre to multi-cloud platforms like Cloudinfinit, AWS and Azure. They also entrusted Sify with management and security.
- Customers choosing Sify as their DC Hosting partner as they embrace a hybrid cloud strategy.
- Customers choosing Sify as their digital services partner.
- Customers choosing Sify as their network transformation and management partner as they migrate to cloud-ready networks.
- A consolidated summary of the key highlights during the quarter is noted below