This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Sify Reports Revenues Of INR 2,628 Million For Q1 Of FY 2013-14

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.

PERFORMANCE HIGHLIGHTS:

  • 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.”

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,960.57 -123.23 -0.72%
S&P 500 1,978.34 -9.64 -0.48%
NASDAQ 4,449.5640 -22.5440 -0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs