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Sify Technologies has reported a 30.6 per cent decline in its net profits from Rs 163 million for the quarter ended June 2013 to Rs 113 million in the corresponding quarter of 2014. This decline was on account of a rise in finance expenses, which increased from Rs 53 million to Rs 103 million during the same period. Meanwhile, the total revenues of the company increased by 12.7 per cent from Rs 2.62 billion to Rs 2.93 billion during the same period. Earnings before interest, taxes, depreciation and amotisation (EBITDA) grew at 3.8 per cent from Rs 465 million in April-June 2013 to Rs 483 million in the same period in 2014.
M P Vijay Kumar, chief financial officer, Sify Technology states, ?Revenues have shown healthy growth, while EBITDA has not expanded at the same rate due to significant expenses on new Data Centres and execution of a few large capacity projects which are going live in phases. With the additional capacity from our new Data Centres coming on stream, the company will be focusing on monetising assets to drive further revenue growth in the quarters ahead.?
