Sify's Q2 FY financial results show revenue and profits growth with strategic partnerships

From GlobeNewswire: 2024-10-22 07:39:00

Sify Technologies reported revenues of INR 10275 Million, EBITDA of INR 1963 Million, and a profit for the period of INR 49 Million. The earnings call will take place on October 22, 2024, featuring key executives such as Chairman Raju Vegesna, Executive Director M P Vijay Kumar, and CEO Kamal Nath.

Revenue for Sify increased by 17% to INR 10275 Million, EBITDA rose by 29% to INR 1963 Million, and the profit before tax was INR 87 Million, with a profit after tax of INR 49 Million. CAPEX for the quarter was recorded at INR 2594 Million, showcasing Sify’s financial performance.

Mr. Raju Vegesna, Chairman of Sify, highlighted India’s evolving enterprise landscape driven by regulatory advancements, business innovation, and infrastructure development. CEO Kamal Nath emphasized the importance of digital transformation in reshaping IT frameworks, while CFO M P Vijay Kumar detailed Sify’s commitment to fiscal prudence and sustainability in all business aspects.

During the quarter, Sify’s revenue distribution was 32% from Data Center colocation services, 32% from Digital services, and 36% from Network services. The company commissioned 6.5 MW of Data Center capacity in Mumbai and deployed 10057 SDWAN service points across the country. Sify continues to expand its services across various sectors, emphasizing cloud solutions and data security.

Sify secured significant new contracts in Data Center, Digital, and Network services during the quarter. Notable partnerships include global security firms, national banks, private mobility players, and state government entities. These engagements demonstrate Sify’s ability to provide innovative solutions tailored to specific industry needs and support digital transformation effectively.



Read more at GlobeNewswire:: Sify reports Consolidated Financial Results for Q2 FY