We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.28 | 1.29 | 1.36 | 0 | 09:17:56 |
HIGHLIGHTS
(IN INR MILLION) | 30.06.2023 | 31.03.2023 |
EQUITY | 17,210 | 17,146 |
BORROWINGS | ||
Long term | 14,897 | 13,818 |
Short term | 6,581 | 6,662 |
MANAGEMENT COMMENTARY
Mr. Raju Vegesna, Chairman, said, “India is in one of its most exciting phases of growth. This has to do with its recognition as a mature, stable destination, the availability of relevant resources and tools, and significant untapped demand from Indian enterprises.
“The government has been consistent in using IT as an enablement tool to implement social measures, and this has contributed to a very mature IT ecosystem.
“Our next phase of growth will leverage this favorable environment by introducing innovative and cost-effective digital services for our customers.”
Mr. Kamal Nath, CEO, said, “As Enterprises are pursuing their digital transformation and digitalisation objectives, they are also re-calibrating their digital infrastructure across hybrid cloud, network, security and edge infrastructures. This is a great opportunity for us to monetise our infrastructures designed for Digital IT and transform the way digital infrastructures are managed through our Digitalised services. We are topping that up by continuously building our core digital portfolio to support our customers innovation journey.
“This portfolio places Sify in a unique position for all round customer engagement across their digital lifecycle which we believe would augment our growth strategy.”
Mr. M P Vijay Kumar, ED & Group CFO, said, “Sify and Sify Infinit Spaces Limited (“SIS”), a wholly owned subsidiary of Sify which operates its data centers, have entered into an agreement with KDCF on July 20, 2023, under which KDCF will invest up to INR 6000 Million (approximately USD 73 Million) in the form of compulsory convertible debentures of SIS. SIS will use the proceeds from the issue of these debentures for the expansion of new data centers, including land acquisition for data centers, investment in procuring alternate source of power and repayment of debt.
“Fiscal discipline will remain the cornerstone of our growth strategy as we scale investments into Data Centers and Networks. By judiciously allocating investments and resources, we will seamlessly expand our infrastructure, invest in new resources and build competencies and scale. While we expect to see these investments impact profitability in the near term, they should enable us to aggressively pursue digital transformation engagements in the future.
“We will continue to prioritize resource optimization and sustainability, fortifying our reputation as India’s converged ICT leader.
“The cash balance at the end of the quarter was INR 3240 Million.”
BUSINESS HIGHLIGHTS
Business Revenue (INR Millions) | Q1 FY 2023-24 | Q1 FY 2022-23 | FY 2022-23 | % Growth Q1 2023-24 vs Q1 2022-23 | |
Data Center services | 2704 | 2616 | 10125 | 3 | % |
Digital Services | 2416 | 2038 | 9988 | 19 | % |
Network services | 3427 | 3055 | 13291 | 12 | % |
TOTAL | 8547 | 7709 | 33404 |
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 | ||||
2023 | 2022 | 2023 | 2023 | |||||
(Audited) | ||||||||
Revenue | 8,547 | 7,709 | 8,861 | 33,404 | ||||
Cost of Revenues | (5,371 | ) | (4,910 | ) | (5,714 | ) | (21,379 | ) |
Selling, General and Administrative Expenses | (1,452 | ) | (1,274 | ) | (1,510 | ) | (5,734 | ) |
EBITDA | 1,724 | 1,525 | 1,637 | 6,291 | ||||
Depreciation and Amortisation expense | (1,118 | ) | (927 | ) | (1,092 | ) | (3,972 | ) |
Net Finance Expenses | (471 | ) | (281 | ) | (367 | ) | (1,430 | ) |
Other Income (including exchange gain) | 14 | 78 | 2 | 132 | ||||
Other Expenses (including exchange loss) | - | - | - | - | ||||
Profit before tax | 149 | 395 | 180 | 1,021 | ||||
Current Tax | (147 | ) | (163 | ) | (105 | ) | (526 | ) |
Deferred Tax | 93 | 39 | (41 | ) | 179 | |||
Profit for the period | 95 | 271 | 34 | 674 | ||||
Profit attributable to: | ||||||||
Reconciliation with Non-GAAP measure | ||||||||
Profit for the period | 95 | 271 | 34 | 674 | ||||
Add: | ||||||||
Depreciation and Amortisation expense | 1,118 | 927 | 1,092 | 3,972 | ||||
Net Finance Expenses | 471 | 281 | 367 | 1,430 | ||||
Current Tax | 147 | 163 | 105 | 526 | ||||
Less: | ||||||||
Deferred Tax | (93 | ) | (39 | ) | 41 | (179 | ) | |
Other Income (including exchange gain) | (14 | ) | (78 | ) | (2 | ) | (132 | ) |
EBITDA | 1,724 | 1,525 | 1,637 | 6,291 | ||||
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, Sify Infinit Spaces limited, Sify Digital Services limited 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, 2023, 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 |
1 Year Sify Technologies Chart |
1 Month Sify Technologies Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions