Sify Technologies has released its financial results for the quarter ended March 31, 2024. The company reported a revenue of Rs 35,634 million during the quarter. EBITDA for the company stood at Rs 6,756 million for the fourth quarter (Q4) of financial year 2023-24 (FY24). The EBITDA margin witnessed an increase of 7 per cent over the same quarter last year.

Further, profit before tax (PBT) for the company stood at Rs 232 million, lower by 77 per cent over the same quarter last year. Also, as per release, the profit after tax (PAT) for the company stood at Rs 49 mililon. Meanwhile, capital expenditure (capex) during the quarter was Rs 12,377 million.

Business Summary for the quarter includes:

  • Revenue from data centre services grew by 13.58 per cent over same quarter last year.
  • Revenue from digital services fell by 71.8 per cent over same quarter last year
  • Revenue from network centric services grew by 19.08 per cent over same quarter last year.

The revenue split between the businesses during the quarter was data centre colocation services 31 per cent, digital services 28 per cent and network centric services 41 per cent.

Commenting on the results, Raju Vegesna, chairman, Sify Technologies, said, “It is comforting to witness India’s growth amidst global challenges. Our people possess remarkable skills, driving progress despite disruptions. International business leaders share our optimism, recognising India’s potential. Their confidence reflects positively on our business environment, attracting investments and fostering partnerships. This growth is not just for businesses, it benefits our entire nation, creating jobs, improving livelihoods, and driving development. Despite geopolitical disturbances, India stands strong, powered by our abundant talent and unwavering spirit. Together, we are shaping a brighter future for generations to come. I am committed to fostering this growth, ensuring that India continues to thrive on the world stage and Sify has a central role to play.”

Meanwhile, Kamal Nath, chief executive officer (CEO), Sify Technologies, said, “As enterprises advance their digital transformation and digitalization goals, they are strategically realigning their digital architecture across applications, hybrid cloud, network, security, and edge environments. Customer experience, business continuity, cybersecurity, application modernisation, and artificial intelligence (AI) enablement are the pivotal catalysts driving this recalibration. Our robust infrastructure investments and comprehensive services portfolio are structured to precisely address customer objectives. Concurrently, we maintain proactive engagement with clients, identifying their distinct requirements and customizing our offerings to align with their evolving needs.”

In addition, M P Vijay Kumar, chief financial officer (CFO), Sify Technologies, said, “Our three businesses have unlocked tailored growth avenues, attracted targeted investments and fostered valuable partnerships. Our investment philosophy encompasses expanding data centre presence to new locations for sustained growth, increasing capacity at existing facilities to meet immediate demand, and fortifying network and cloud interconnectivity. Simultaneously, we are prioritising the expansion of our workforce, equipping them with essential skills, tools, and processes to drive innovation and efficiency. All the while, we remain steadfast in our commitment to cost-effectiveness and fiscal prudence. Cash balance at the end of the year was Rs 5,835 million.”