Sify Technologies Limited (NASDAQ Global Markets: SIFY), a leader in Managed Network, IT and Application services in India with growing global delivery capabilities , today announced its consolidated results under International Financial Reporting Standards (IFRS) for the first quarter of fiscal year 2013-14.
- Revenue for the quarter ended June 30, 2013 was INR 2,628 million, an increase of 13% versus the previous quarter, and an increase of 33% over the same period last year.
- EBITDA for the quarter was INR 465 million, an increase of 104% versus the previous quarter, and an increase of 151% over the same period last year.
- Net Profit for the quarter was INR 163 million as against a net loss of INR 16 million for the previous quarter.
- CAPEX during the quarter was INR 176 million. Cash balance at the end of the quarter was INR 1,085 million.
Mr. Raju Vegesna, Chairman and Managing Director, said, “This quarter has been our strongest quarter to date since we embarked on the new strategic direction we have set for ourselves.
“On the infrastructure front, we have consistently built capacity ahead of customer demand. Our investments in Network and Data Centers is gaining increasing interest and improved utilization. We are seeing traction around our Cloud business and our investments in submarine cables have enabled Sify to compete for new business opportunities. With the market in consolidation mode, we are also reaping the benefits of clients choosing Sify for our consistent and predictable performance.”Mr. Kamal Nath, CEO, said, “This quarter’s result is a clear reflection of Sify 3.0 led strategy and execution plan which were laid down three quarters back. There is a significant growth in multi-tower engagement with existing and new customers, average deal size and revenue from existing customer base. Revenue, Net Profit, and Order Booking have been the highest for a quarter till date. “The highlight of the quarter is the winning of a multi-services, multi-technology integration project across more than 3500 locations from one of India’s largest Non-Banking Financial Companies.”