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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 | |
---|---|---|---|---|---|---|---|---|---|---|
-0.07 | -5.56% | 1.19 | 1.21 | 1.26 | 1.25 | 1.18 | 1.25 | 20,104 | 22:32:46 |
EBITDA for the Quarter stood at INR 771 Million
PERFORMANCE HIGHLIGHTS:
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 | |||||
2018 | 2017 | 2018 | ||||||
Revenue | 5,509 | 4,840 | 4,683 | |||||
Cost of Revenues | (3,470 | ) | (3,067 | ) | (2,845 | ) | ||
Selling, General and Administrative Expenses | (1,268 | ) | (1,057 | ) | (1,097 | ) | ||
EBITDA | 771 | 716 | 741 | |||||
Depreciation and Amortisation expense | (384 | ) | (524 | ) | (387 | ) | ||
Net Finance Expenses | (175 | ) | (74 | ) | (134 | ) | ||
Other Income (including exchange gain) | 67 | 85 | 34 | |||||
Other Expenses (including exchange loss) | (26 | ) | - | (53 | ) | |||
Profit before tax | 253 | 203 | 201 | |||||
Income tax expense | ||||||||
Profit for the period | 253 | 203 | 201 | |||||
Profit attributable to: | ||||||||
Reconciliation with Non-GAAP measure | ||||||||
Profit for the period | 253 | 203 | 201 | |||||
Add: | ||||||||
Depreciation and Amortisation expense | 384 | 524 | 387 | |||||
Net Finance Expenses | 175 | 74 | 134 | |||||
Other Expenses (including exchange loss) | 26 | - | 53 | |||||
Income tax expense | - | - | - | |||||
Less: | ||||||||
Other Income (including exchange gain) | (67 | ) | (85 | ) | (34 | ) | ||
EBITDA | 771 | 716 | 741 | |||||
MANAGEMENT COMMENTARY Mr. Raju Vegesna, Chairman, said, “We continue to see more Global and Domestic Enterprises contracting us for their pan-India implementation. These companies are able to leverage the maturity of our Telecom and Data Center business to shrink their go-to-market time. The Government’s aggressiveness on digitization is also continuing to open up opportunities for our broader set of services.”
Mr. Kamal Nath, CEO, said, “Our recent wins are an endorsement of our vertical go-to-market strategy that was introduced a year earlier. This is reflecting positively on our revenue mix, profitability and new order book. Recent public policy changes regarding proposed data protection regulations in India and the Central Bank’s directive on domiciling data in the country of origin is driving demand as more global players look at hosting their applications within India. Our “Cloud@Core” service lines are perfectly aligned to cater to these demands.”
Mr. M P Vijay Kumar, CFO, said, “We continue our investments, specifically in Data Center infrastructure and enhancement of our network and IT managed services portfolio. While our revenues continue to grow, we continue to focus on fiscal prudence in the face of a tightening market.
Our cash balance at the end of the quarter stands at INR 1466 Million.”
CORPORATE COMMENTARY
Mr. Arun Seth has been appointed as Independent Director and Member, Audit Committee, subject to the approval of shareholders. A respected Telecom leader, Mr. Seth was the founding Managing Director of British Telecom in India and is an active evangelist of the software product eco-system. With his appointment, Sify is now fully compliant with the NASDAQ Listing Rule 5605 on the number of Independent Directors on the Board and Audit Committee. A detailed announcement will follow shortly.
BUSINESS HIGHLIGHTS
GROWTH DRIVERS
Indian enterprises are in the mode of accelerated adoption of cloud model to drive their digital transformation and digitalization initiatives. The cloud adoption is being driven by the need of scalability and flexibility need of DCs as well as the need for digital tools like Artificial intelligence, Advanced Analytics, IoT, Machine Learning. This trend is visible among almost all the verticals of the industry.
This is driving usage and monetization of cloud infra, data centers and cloud aligned network infrastructures- the areas where Sify has invested majorly in India.
Sify views its services business around cloud migration and management and cloud security to be an area of fast growth.
On the Telecom front, Sify’s Cloud and DC centric infrastructure was further expanded to include cloud interconnections with Google Cloud during the quarter and launch of the nx400G capable metro infrastructure in the cities of Chennai and Bengaluru. Sify also augmented its wireless network across India, with 200 new base stations commissioned.
KEY WINS
A consolidated list of the key sign ups during the quarter is as below:
About Sify TechnologiesSify is the largest ICT service provider, systems 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 10000 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 1600 cities in India and in 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, 2018, 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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