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Name | Symbol | Market | Type |
---|---|---|---|
Sify Technologies Limited | NASDAQ:SIFY | NASDAQ | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.045 | 3.73% | 1.25 | 1.25 | 1.29 | 1.27 | 1.17 | 1.18 | 41,115 | 01:00:00 |
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Mr. Raju Vegesna, Chairman, said, "Sify has matured from being a provider of standalone services to becoming an active partner in the planning stage of client projects. This points to the maturity of our knowledge practices, client engagement across the entire IT life cycle, and the cost-effective solutions that we are able to bring to the table.
"With our entry into the North American market, we will leverage our success in building cost-effective, hybrid, and scalable IT solutions in India. We will also actively pursue opportunities stemming from new digital transformation models, with a focus on remote infrastructure management and digital learning.
"Within India, we are seeing the early signs of renewed economic confidence, and we are well-positioned to benefit from an improved economic climate, given our successful delivery of client projects and penetration across the different Enterprise segments." Mr. Kamal Nath, CEO, said, "Financial Year 14-15 has been a significant year in our Sify 3.0 transformation journey.
"While we continue to grow beyond industry standards in our Telecom business, our IT services portfolio led by Data Center Transformation Services and Managed Application Infrastructure Services has also gained significant traction. The market has endorsed our position as a 3rd platform led IT Services Provider encompassing Data Centre, Network and Application Services resulting into multiple Total Outsourcing contracts being signed during the year.
"Our next phase of growth would be based on these successes and the portfolio augmentation around 3rd platform." Mr. M P Vijay Kumar, CFO, said, "We are pleased to report over 20% growth in revenue amidst a business environment that can best be described as cautiously optimistic. We managed to hold steady on both revenue growth and cost management. We continue to weigh new investment options against emerging business opportunities to scale our business, while at the same time improving our current asset utilization.
"Net income for this fiscal year has grown, but was unable to keep pace with the comparably higher growth in revenue and EBITDA. This reflects the higher depreciation and financing costs, related to our investments in capacity and increased working capital with the higher business volume.
"Based on the significant one-time investments we have made in 2013 and 2014, it will be a little more time before we can fully monetize our investments, especially the data centres. However, our planned investments for 2015-16 tend to be more incremental, and directly linked to increases in volumes or new customer contracts. "The Board has recommended a dividend of 10%. Cash balance at the end of the year was INR 1471 million." Financial Highlights Unaudited Consolidated income statement as per IFRS (In INR millions) Year ended Year ended Quarter ended Quarter ended Description March March March March 2015 2014 2015 2014 Revenue 12,864 10,460 3,594 2,632 Cost of Revenues (7,764) (6,137) (2,276) (1,621) Selling, General and Administrative Expenses (3,095) (2,739) (795) (693) EBITDA 2,005 1,584 523 318 Depreciation and Amortisation expense (1,275) (1,101) (340) (266) Net Finance Expenses (436) (257) (110) (57) Other Income 95 92 29 45 Profit for the period 389 318 102 40 Reconciliation with Non-GAAP measure Profit for the period 389 318 102 40 Add: Depreciation and Amortisation expense 1,275 1,101 340 266 Net Finance Expenses 436 257 110 57 Less: Other Income (95) (92) (29) (45) EBITDA 2,005 1,584 523 318 Note: Year ended March 31, 2014 are audited numbers
Business Highlights
Telecom
Data Centre Services
Cloud and Managed Services
Applications Integration Services
Technology Integration Services
About Sify Technologies
Sify is among the largest integrated ICT Solutions and Services companies in India, offering end-to-end solutions with a comprehensive range of products delivered over a common telecom data network infrastructure reaching more than 1300 cities and towns in India. This telecom network today connects 38 Data Centres across India including Sify's 6 Tier III Data Centres across the cities of Chennai, Mumbai, Delhi and Bengaluru. A significant part of the company's revenue is derived from Enterprise Services, comprised of Telecom services, Data Centre services, Cloud and Managed services, Applications Integration services and Technology Integration services. Sify also provides services that cater to the burgeoning demands of the SMB community, much of it on its Cloud services platform. Sify is ISO 9001:2008 certified for Enterprise Sales, Provisioning, support and customer relationship management of ICT solutions and services including VPN, Network, Voice, Data Centre hosting, Integration services, security services and managed services. Sify has been certified in ISO / IEC 20000 - 1:2011 and ISO/IEC 27001:2005 certified for Internet Data Centre operations. Sify has been certified in SSAE16 SOC2 Type II for Cloud Infrastructure and in TL 9000 for Enterprise Network Services, Network Integration Services including Design, Implementation and Support services. The latter certification is telecommunication industry's quality system standard that expands the requirements of the International Standards Organization's ISO 9000 quality management standard in use by industries worldwide. Sify has licenses to operate NLD (National Long Distance), ILD (International Long Distance) services and ISP services and offers VoIP backhaul for international carriers. With the Sify Cable landing station and partnerships with submarine cable companies globally, Sify is present in almost all the spheres of the ICT eco system. Sify has an expanding base of Managed Services customers, both in India and overseas, and is India's first enterprise managed services provider to launch a Security Operations Center (SOC) to deliver managed security services. The software team develops applications and offers services to improve business efficiencies of its current and prospective client bases. Sify also offers services in the specialized domains of eLearning, both in India and globally. For more information about Sify, visit www.sifycorp.com Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Sify undertakes no duty to update any forward-looking statements. For a discussion of the risks associated with Sify's business, please see the discussion under the caption "Risk Factors" in the company's Annual Report on Form 20-F for the year ended March 31, 2014, which has been filed with the United States Securities and Exchange Commission and is available by accessing the database maintained by the SEC at www.sec.gov, and Sify's other reports filed with the SEC.
A photo accompanying this release is available at:
http://www.globenewswire.com/newsroom/prs/?pkgid=32361
CONTACT: For further information, please contact: Sify Technologies Limited Mr. Praveen Krishna Investor Relations & Public Relations +91 44 22540777 (ext.2055) praveen.krishna@sifycorp.com Grayling Investor Relations Ms. Truc Nguyen (ext. 418) +1-646-284-9400 truc.nguyen@grayling.com 20:20 Media Ms. Divya Singh +91 0 8552944004 divya.singh@2020msl.com
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