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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 | |
---|---|---|---|---|---|---|---|---|---|---|
-0.0978 | -18.46% | 0.432 | 0.4244 | 0.59 | 0.49 | 0.425 | 0.4892 | 3,047,025 | 05:00:10 |
Highlights:
(IN INR MILLION) | Q2 FY 2021-22 | Q2 FY 2020-21 | Q1 FY 2021-22 |
EQUITY | 13853 | 11808 | 13503 |
BORROWINGS | |||
Long term | 6582 | 5960 | 5912 |
Short term | 3809 | 3558 | 3462 |
MANAGEMENT COMMENTARYMr. Raju Vegesna, Chairman, said, “India has bounced back remarkably well from the pandemic, with businesses reporting near pre-pandemic results.
If anything, this pandemic helped to clearly establish what a proactive administration can achieve. Through the course of multiple lockdowns, the government set the pace by enabling critical IT infrastructure and following that up with aggressive adoption of automation for last mile delivery of welfare services. Similar initiatives have rapidly been adopted by small and medium enterprises, driving demand for services like data centers and networks. That, combined with geo-political changes, has made India increasingly attractive to MNC enterprises as the next destination for IT infrastructure. We expect these tailwinds to create new opportunities for Sify.”
Mr. Kamal Nath, CEO, said, “As declared earlier, the creation of the two subsidiaries; Sify Infinit Spaces Limited and Sify Digital Services Limited under the parent, Sify Technologies Limited, was to ensure that we can focus our strategy and investments in line with the evolving market conditions. Our financial results endorse this decision.
The decision was timed to the Enterprise world’s accelerating demand for Hyperscale Data Center demands, cloud-based digital transformation services and application modernization, all central to our current services bouquet. With the return in market sentiment, we are seeing aggression in customers’ decision making in all forms of digitalization. Our Cloud@core portfolio of services sits perfectly with this new demand and is increasingly reflected in our current customer engagements.”
Mr. M P Vijay Kumar, CFO, said, “We continue to stay focused on expanding our Data Center footprint, along with our network reach and delivery capabilities in our digital services. Operating performance continues to be stable. While the economic recovery is a healthy, positive sign, we will continue to be vigilant on cost efficiency, capital allocation and liquidity management.
Cash balance at the end of the quarter was INR 2820 Million.”
Business Summary:
The business summary this quarter is presented separately for Network Services, Data Center Services and Digital Services reflecting the separate subsidiaries that have been established to focus on each of these business lines.
The Revenue split between the businesses was Network Centric Services - 42%, Data Center Services – 27% and Digital Services - 31%.
Business Highlights:
Customer engagements:
FINANCIAL HIGHLIGHTS
Sify Technologies Limited | ||||||
Unaudited Consolidated Income Statement as per IFRS | ||||||
(In INR millions) | ||||||
Quarter ended | Quarter ended | Quarter ended | ||||
Description | September | September | June | |||
2021 | 2020 | 2021 | ||||
Revenue | 6,986 | 5,899 | 6,451 | |||
Cost of Revenues | (4,201 | ) | (3,647 | ) | (3,906 | ) |
Selling, General and Administrative Expenses | (1,308 | ) | (1,063 | ) | (1,091 | ) |
EBITDA | 1,477 | 1,189 | 1,454 | |||
Depreciation and Amortisation expense | (790 | ) | (667 | ) | (802 | ) |
Net Finance Expenses | (252 | ) | (142 | ) | (227 | ) |
Other Income (including exchange gain) | 33 | 42 | 17 | |||
Other Expenses (including exchange loss) | (7 | ) | (8 | ) | (2 | ) |
Profit before tax | 461 | 414 | 440 | |||
Current Tax | (205 | ) | (164 | ) | (118 | ) |
Deferred Tax | 100 | 7 | 7 | |||
Profit for the period | 356 | 257 | 329 | |||
Profit attributable to: | ||||||
Reconciliation with Non-GAAP measure | ||||||
Profit for the period | 356 | 257 | 329 | |||
Add: | ||||||
Depreciation and Amortisation expense | 790 | 667 | 802 | |||
Net Finance Expenses | 252 | 142 | 227 | |||
Other Expenses (including exchange loss) | 7 | 8 | 2 | |||
Income tax expense | 205 | 164 | 118 | |||
Less: | ||||||
Deferred Tax | (100 | ) | (7 | ) | (7 | ) |
Other Income (including exchange gain) | (33 | ) | (42 | ) | (17 | ) |
EBITDA | 1,477 | 1,189 | 1,454 | |||
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6f3747f4-86a9-4e7f-b050-e5addd56a28a
About Sify Technologies
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, 2021, 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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