Sify Reports Revenues for Q2 of FY 2013-14 [Manufacturing Close - Up]
(Manufacturing Close - Up Via Acquire Media NewsEdge) Sify Technologies Limited, a company focusing on Managed Network, IT and Application services in India with global delivery capabilities, announced its consolidated results under International Financial Reporting Standards (IFRS) for the second quarter of fiscal year 2013-14.
In a release on October 24, the Company noted that performance highlights include:
-Revenue for the quarter ended Sep 30, was INR 2505 million, an increase of 22 percent over same quarter last year.
-EBITDA for the quarter was INR 424 million, an increase of 180 percent over the same quarter last year.
-Net Profit for the quarter was INR 111 million as against a net loss of INR 57 million for the same quarter previous year, excluding a one-time gain of INR 658 million from sale of associate as reported earlier.
-CAPEX during the quarter was INR 700 million. Cash balance at the end of the quarter was INR 1614 million.
Raju Vegesna, Chairman and Managing Director, said, "In spite of a challenging external environment across most sectors in India, we are continuing to see good traction for our solutions offerings. While these tight fiscal conditions have naturally resulted in some delays in customer decisions on major projects, we are also seeing that clients are consolidating their services with established service providers. As a well-entrenched player across the entire ICT ecosystem, we are better able to expand our share-of-wallet by leveraging our broad portfolio to provide cost-effective solutions.
"The other trend that we are seeing in this market is that emerging enterprises are beginning to adopt IT in a large way. Our wide bouquet of services, and our ability to scale and implement them quickly, translates into greater value for our customers.
"Our investments in capacity building will be in time with market demands. That way, we are able to monetize our investments better and still respond to increased customer demands resulting from consolidation."
Kamal Nath, CEO, said, "Our entire focus revolves around bringing the client into the Sify environment. Given our capabilities across the entire ICT eco-system, clients are able to fully leverage the benefit of choosing multiple services from us, thus lowering their TCO and also giving us a larger wallet share of their IT spends.
"Our investment in building new DC capacity at both Noida and Mumbai is attracting strong interest from major customers seeking consolidation of services. The services business is beginning to see growth, in particular the Cloud and Managed services."
M P Vijay Kumar, CFO, said, "We have seen a consistent upward trend in both revenue and profitability. Apart from the increased sales of our services portfolio, the other major reason for our improved performance has been our continued strict adherence to financial discipline. Our focus will be in increasing revenue with existing clients through more services, while negotiating mutually beneficial economic terms with new clients. Our investment in infrastructure continues to be demand-driven.
"Cash balance at the end of the quarter was INR 1614 million."
-Telecom services grew by 35 percent over same quarter last year.
-Data Services grew by 34 percent over same quarter last year.
-A global company in the aviation technology space awarded Sify a large network integration contract covering all key airports in India.
-A large Public Sector Bank awarded Sify a contract for supporting its online banking site.
-Sify launched enhanced DDoS detection and mitigation service for its customers, enabling customers with large internet-facing businesses to protect and secure their business from DDoS attacks.
Data Center business
-The new DC at Noida is seeing a lot of traction. Work on the new DC at Mumbai is being accelerated to expand capacity.
-Renewals came from across all industries including a logistics major, a state government electricity board, a telecom multi- national and the largest banking conglomerate in India.
-New business included one of India's leading English-language publications, a home-grown banking major, and one of the oldest Indian companies in the mobile power business.
Cloud and Managed services
-Cloud and Managed Services grew by 46 percent over same quarter last year.
-The business signed up a premier education institution and a food multi-national.
-One of the world's most popular fast food chains in India has opted for our Cloud Platform to run their critical IT Servers.
-A leading Chemical multinational has opted for our Disaster recovery services to provide business continuity.
-One of India's largest private bank has signed us to run its critical cheque truncation system for both its Datacentre & Far site DR.
-One of the largest Core banking Independent Software Vendors has chosen Sify Cloud platform to run its Core Banking Solutions for its cooperative banks customers.
-Talent Management Solutions registered an increase of 192 percent over same quarter last year.
-Portals grew 45 percent over same quarter last year. As per Comscore, Sify unique visitors grew by 85 percent, against a category growth of 6 percent.
-Sify Finance was among the top 5 portals in Business Finance News / Research category, having a visitor YoY growth of approx 352 percent.
-Sify eLearning signed up two of the world's largest pharmaceutical giants, an international auditing major and a United Nations body.
Technology Integration services
-Technology Integration Business grew by 69 percent over previous quarter.
-Safescrypt grew by 87 percent over previous quarter.
-Sify was contracted to build a Data Center for a Defence establishment and a health care major.
-A government statistical research institute contracted Sify to build and maintain its MPLS network.
Sify is an integrated ICT Solutions and Services company.
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