Sify Technologies reports revenue growth and investments in network infrastructure and digital services
From GlobeNewswire: 2024-07-19 08:25:00
Sify Technologies hosted an earnings call, reporting INR 9,421 Million in revenue, a 10% increase YoY. EBITDA reached INR 1,784 Million, up 3% YoY. Loss before tax was INR 46 Million, and after tax was INR 105 Million. The company highlighted ongoing investments in network infrastructure and digital services to support India’s growth. With growing demand for digital transformation, Sify aims to offer innovative solutions tailored to meet evolving customer needs.
Sify Technologies’ management shared insights on India’s economic growth and the company’s strategic positioning in the market. The Chairman highlighted a phase of growth driven by positive regulatory changes and rising investments. CEO emphasized the importance of adapting IT frameworks to enhance user satisfaction and operational resilience. The CFO discussed implementing IFRS 18 norms for financial reporting and outlined investment plans for infrastructure expansion and talent development.
Business highlights included revenue split: Data Center services at 36%, Digital services at 23%, and Network services at 41%. Sify expanded its network with 1055 fiber nodes and deployed 9415 SDWAN service points across the country. The quarter saw notable contracts signed with global IT majors, stock exchanges, banks, and digital services companies. The financial report showed a gross profit of INR 3,460 Million and an EBITDA of INR 1,784 Million.
Sify Technologies, a leading ICT service provider, offers cloud-based solutions to meet the demands of India’s digital economy. With an extensive network and infrastructure, Sify caters to businesses of all sizes, providing data centers, network services, and digital solutions. The company’s focus on innovation and customer-centric offerings has positioned it as a key player in India’s ICT landscape.
Read more at GlobeNewswire:: SIFY) reports Consolidated Financial Results