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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.4299 | 16.66% | 3.0099 | 2.94 | 3.01 | 3.06 | 2.56 | 2.57 | 280,896 | 00:46:35 |
HIGHLIGHTS
(IN INR MILLION) | Q1 2022-23 | FY 2021-22 |
EQUITY | 14753 | 14476 |
BORROWINGS | ||
Long term | 7702 | 7769 |
Short term | 6855 | 7483 |
MANAGEMENT COMMENTARY
Mr. Raju Vegesna, Chairman, said, “The last couple months has seen shifting winds in the macroeconomics of the world. Right through, India has retained a strong outlook for investments and growth. This is in large part due to the consistent economic policies of the government and its stated ambition to pursue digital methods to deliver social benefits.
The technology landscape has been the biggest beneficiary of these policies, and this is reflected in the growing number of incoming requests for Digital Transformation. We see Indian enterprises using this opportunity to adopt the best practices from around the world”.
Mr. Kamal Nath, CEO, said, “Enterprises are displaying a growing comfort in digital adoption across all levels. They are leveraging digital transformation to spark innovation across the enterprise, and this is resulting in an increasing number of new initiatives delivered on a digital-only platform.
While earlier, our mandate was to accelerate our clients’ transformation goals, our cloud-focused Digital initiatives are now called upon to create new business processes, customer experiences and greater cost-effectiveness.
Enterprises’ increasing interest in outcome-based initiatives, incoming policies around data and the government’s aggressive adoption around all-things-digital should act as tailwinds for our Data Center, Network and Digital services”.
Mr. M P Vijay Kumar, CFO, said, “We remain committed to expanding our data center and network footprint and are gradually scaling up the adoption of renewable energy in our data centers. Investment into people and tools will be complimentary to this growth, without losing sight of our fiscal roadmap.
As we scale, our focus would be on ensuring that costs are optimized and revenues are improved across our service mix.
Cash balance at the end of the quarter was INR 3794 Million”.
BUSINESS HIGHLIGHTS
Business Revenue (INR Millions) | Q1 FY 2022-23 | Q1 FY 2021-22 | FY 2021-22 | % Growth Q1 2022-23 vs Q1 2021-22 | |
Data Center services | 2616 | 1680 | 7494 | 56% | |
Digital Services | 2038 | 2008 | 7520 | 1% | |
Network services | 3055 | 2763 | 12012 | 11% | |
TOTAL | 7709 | 6451 | 27026 |
CUSTOMER ENGAGEMENTS
Among the most prominent new contracts during the quarter were the following:
Data Center Services
Digital services
Network Services
FINANCIAL HIGHLIGHTS
Unaudited Consolidated Income Statement as per IFRS | |||||||||
(In INR millions) | |||||||||
Quarter ended | Quarter ended | Quarter ended | Year ended | ||||||
Description | June | June | March | March | |||||
2022 | 2021 | 2022 | 2022 | ||||||
(Audited) | |||||||||
Revenue | 7,709 | 6,451 | 6,805 | 27,026 | |||||
Cost of Revenues | (4,910 | ) | (3,906 | ) | (4,076 | ) | (16,042 | ) | |
Selling, General and Administrative Expenses | (1,274 | ) | (1,091 | ) | (1,194 | ) | (4,944 | ) | |
EBITDA | 1,525 | 1,454 | 1,535 | 6,040 | |||||
Depreciation and Amortisation expense | (927 | ) | (802 | ) | (855 | ) | (3,298 | ) | |
Net Finance Expenses | (281 | ) | (227 | ) | (268 | ) | (1,025 | ) | |
Other Income (including exchange gain) | 78 | 17 | 56 | 131 | |||||
Other Expenses (including exchange loss) | - | (2 | ) | - | - | ||||
Profit before tax | 395 | 440 | 468 | 1,848 | |||||
Current Tax | (163 | ) | (118 | ) | (185 | ) | (640 | ) | |
Deferred Tax | 39 | 7 | 42 | 50 | |||||
Profit for the period | 271 | 329 | 325 | 1,258 | |||||
Profit attributable to: | |||||||||
Reconciliation with Non-GAAP measure | |||||||||
Profit for the period | 271 | 329 | 325 | 1,258 | |||||
Add: | |||||||||
Depreciation and Amortisation expense | 927 | 802 | 855 | 3,298 | |||||
Net Finance Expenses | 281 | 227 | 268 | 1,025 | |||||
Other Expenses (including exchange loss) | - | 2 | - | - | |||||
Current Tax | 163 | 118 | 185 | 640 | |||||
Less: | |||||||||
Deferred Tax | (39 | ) | (7 | ) | (42 | ) | (50 | ) | |
Other Income (including exchange gain) | (78 | ) | (17 | ) | (56 | ) | (131 | ) | |
EBITDA | 1,525 | 1,454 | 1,535 | 6,040 | |||||
About Sify TechnologiesA Fortune India 500 company, Sify Technologies is India’s most comprehensive ICT service & solution provider. With Cloud at the core of our solutions portfolio, Sify is focussed on the changing ICT requirements of the emerging Digital economy and the resultant demands from large, mid and small-sized businesses.
Sify’s infrastructure comprising the largest MPLS network, top-of-the-line DCs, partnership with global technology majors, vast expertise in business transformation solutions modelled on the cloud make it the first choice of start-ups, incoming Enterprises and even large Enterprises on the verge of a revamp.
More than 10000 businesses across multiple verticals have taken advantage of our unassailable trinity of Data Centers, Networks and Security services and conduct their business seamlessly from more than 1600 cities in India. Internationally, Sify has presence across North America, the United Kingdom and Singapore.
Sify, www.sify.com, Sify Technologies and www.sifytechnologies.com are registered trademarks of Sify Technologies Limited.
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, 2022, 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.
For further information, please contact:
Sify Technologies LimitedMr. Praveen KrishnaInvestor Relations & Public Relations+91 44 22540777 (ext.2055)praveen.krishna@sifycorp.com | Grayling Investor RelationsLucia Domville+1-646-824-2856Lucia.Domville@grayling.com | 20:20 Media Nikhila Kesavan+91 9840124036nikhila.kesavan@2020msl.com |
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