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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.22 | 1.21 | 1.25 | 1.25 | 1.21 | 1.21 | 27,935 | 21:30:00 |
PERFORMANCE HIGHLIGHTS:
FINANCIAL HIGHLIGHT | ||||||
Unaudited Consolidated Income Statement as per IFRS | ||||||
(In INR millions) | ||||||
Quarter ended | Quarter ended | Quarter ended | ||||
Description | December | December | September | |||
2017 | 2016 | 2017 | ||||
Revenue | 5,228 | 4,635 | 4,840 | |||
Cost of Revenues | (3,469 | ) | (3,007 | ) | (3,066 | ) |
Selling, General and Administrative Expenses | (1,057 | ) | (927 | ) | (1,058 | ) |
EBITDA | 702 | 701 | 716 | |||
Depreciation and Amortisation expense | (396 | ) | (440 | ) | (525 | ) |
Net Finance Expenses | (62 | ) | (110 | ) | (73 | ) |
Other Income | 41 | 25 | 85 | |||
Profit before tax | 285 | 176 | 203 | |||
Income tax expense | - | - | - | |||
Profit for the period | 285 | 176 | 203 | |||
Reconciliation with Non-GAAP measure | ||||||
Profit for the period | 285 | 176 | 203 | |||
Add: | ||||||
Depreciation and Amortisation expense | 396 | 440 | 525 | |||
Net Finance Expenses | 62 | 110 | 73 | |||
Income tax expense | - | - | - | |||
Less: | ||||||
Other Income | (41 | ) | (25 | ) | (85 | ) |
EBITDA | 702 | 701 | 716 | |||
Mr. Raju Vegesna, Chairman, said, “We remain encouraged by the response of Domestic and Global Enterprises to our subscription and outcome-based services. They are beginning to see the merits of consolidating their IT needs with service providers like us who can extend the full range of ICT solutions. Public policy and measures undertaken by the Indian government thus far are positive for large scale Digital Transformation projects, both from private Enterprise and the Public Sector.”
Mr. Kamal Nath, CEO, said, “Our growth is being driven by our continuous enhancement in Data Centre centric IT services which for the first time has gained more wallet share than our Telecom services in our overall revenue mix. Our continuous pitch of integrated IT Services and Telecom services, both aligned to Cloud and Digital Consumption model, have been significant differentiators for Sify, as more clients migrate to the Cloud platform and adopt Digital model of doing business.”
Mr. M P Vijay Kumar, CFO, said, “Our revenue continues to maintain robust growth. The reduction in depreciation is on account of completion of amortization of a significant investment in the past for a major WAN project for a customer. Over this quarter, we have continued our investments in resources and skills enhancement, which will get monetized over time.
“Our cash balance for the quarter was INR 1898 Million.”
Business Highlights
Telecom-centric services - Comprises managed data services on our domestic and international network and termination of voice calls over IP in our domestic and international partner networks.
Data Center-centric IT services - Comprises managed colocation services at Sify’s six concurrently-maintainable data centers, cloud services, application-led services and technology integration-led services
About Sify TechnologiesSify is the largest ICT service provider, system integrator, and all-in-one network solutions company on the Indian subcontinent. We’ve also expanded to the United States, with headquarters in the heart of California’s Silicon Valley.Over 8500 businesses have become Sify customers. We also partner with other major network operators to deliver global network solutions. Our customers can access Sify services via India’s largest MPLS network. Among the very few Enterprise class player in India, Sify, today has presence in more than 1550 cities in India and in North America, the United Kingdom and Singapore. Sify, 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, 2017, 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 Limited Mr. Praveen Krishna Investor Relations & Public Relations +91 44 22540777 (ext.2055) praveen.krishna@sifycorp.com | 20:20 Media Nikhila Kesavan +91 9840124036 nikhila.kesavan@2020msl.com | Grayling Investor Relations Shiwei Yin +1-646-284-9474 Shiwei.Yin@grayling.com |
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