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TheStreet Open House

Sify Reports Revenues Of INR 2059 Million For Second Quarter Of Fiscal Year 2012-13

Stocks in this article: SIFY

FINANCIAL HIGHLIGHTS

Unaudited Consolidated income statement as per IFRS
(In INR millions)                  
Description Quarter ended     Quarter ended     Quarter ended
Sept Sept June
2012 2011 2012
 
Enterprise 1,882 1,613 1,817
Software 177   202   157  
Revenue 2,059   1,815   1,974  
 
Cost of Revenues (1,101 ) (1,060 ) (1,123 )
 
Selling, General and Administrative Expenses (797 ) (619 ) (672 )
     
EBITDA 161   136   179  
 
Depreciation and Amortisation expense (208 ) (172 ) (197 )
 
Net Finance Expenses (16 ) (72 ) (55 )
 
Other Income 17 - 5
 
Share of Affiliates - 19 -
 
Profit from sale of shares in affiliate and rights therein 658 - -
     
Profit / (loss) Before tax 612   (89 ) (68 )
 
Income Taxes - - -
     
Profit / (loss) for the period 612   (89 ) (68 )
 
Profit attributable to:
 
Reconciliation with Non-GAAP measure
 
Profit / (loss) for the period 612 (89 ) (68 )
Add:
Depreciation and Amortisation expense 208 172 197
 
Net Finance Expenses 16 72 55
Less:
Other Income (17 ) - (5 )
Share of Affiliates - (19 ) -
 
Profit from sale of shares in affiliate and rights therein (658 ) - -
     
EBITDA 161   136   179  
 

BUSINESS HIGHLIGHTS:

Network services

  • Network services continue to see an increase in growth rate in its core data business.
  • Revenue is up 17% over same quarter last year and 4% over last quarter. Key wins include a large PSU bank and retail chain.
  • Our network now covers 970 cities Pan India with over 1795 base stations
  • Our strategy of focusing on the SME/SMB market and Tier 2/3 cities has started yielding results. The business growth in this segment is a major component of the overall data revenue growth rate for the company.
  • The business continues to report wins in the retail segment, a focus area for Sify. With the recent announcement in FDI in retail, we expect greater adoption of technology in this segment as local retail chains prepare to compete in a fast changing market.

IT Services

  • Overall, IT services have grown 16% over the same period last year.
  • The hosting business has won major contracts from Indian software, telecom and banking majors. These are all multi year contracts ensuring a healthy revenue inflow. The new data centers being commissioned over the next 2 quarters will also help improve growth in this segment.
  • We also won a large multi-year Network system Integration and Managed services contract from an Indian Insurance major.
  • Our Cloud hosting platform chalked up multiple multi-year wins from Media, FMCG and Telecom companies. We are now accredited by two global cloud services majors for offering their tools on our platform, with one of them also recognising us as “Power of Choice Partner.”
  • The newest stock exchange in the country opted for our Security services. Sify’s Safescrypt services continue to maintain its leadership position.
  • In the first quarter, we launched a new business segment with alliance partners. We are happy to report that this business has taken off well with major contracts from Indian software majors.

Software Services

  • Overall, Software Services registered a growth of 22% over the prior quarter, led by Enterprise applications services, which grew over 40% with wins across a number of industries.
  • In addition to a 6 th consecutive win of the Brandon Hall award, Sify’s E-learning team also picked up the Asian Learning Leadership Award (Dubai) and Asia Pacific Learning and Development Award (India).
  • Over the last 12 months, as per Comscore, http://www.sify.com/ grew by 34% Y on Y. New channels launched were Sify Skills and Sify Gold & Silver Line, along with an application for Facebook called “Sify Social Reader.”

About Sify Technologies

Sify is among the largest integrated Managed Network, IT and Software services companies in India, offering end-to-end solutions with a comprehensive range of products delivered over a common telecom data network infrastructure reaching more than 900 cities and towns in India.

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