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

Mr. M P Vijay Kumar, CFO, said, “With the opening of the first phase of our Noida Data Center, monetizing of one of our largest investments can now begin.

“With the continuing challenging market conditions, and our available capacity from our investments in past years, we plan to closely monitor the emerging opportunities and time our capital requirements and expansion accordingly. While we don’t anticipate a near-term improvement in the market conditions, the fiscal discipline established over the past years and the general market consolidation places us in a strong position to deliver consistent financial results. The continued year-on-year improvement in our financial performance, and the strong results this quarter, are indicative of the consistent and focused strategy on the leadership side.

“Please note that we have provided revenue and operating details based on our new 5 Business Unit structure, starting with this quarter. We will follow this same structure for our financial reporting in the forthcoming quarters.

“Cash balance at the end of the quarter was INR 1,085 million.”

FINANCIAL HIGHLIGHTS

Unaudited Consolidated income statement as per IFRS
(In INR millions)                        
Quarter ended Quarter ended Quarter ended Year ended
Description June June March March
2013 2012 2013 2013
 
Revenue 2,628 1,973 2,316 8,570
 
Cost of Revenues (1,439 ) (1,113 ) (1,233 ) (4,751 )
 
Selling, General and Administrative Expenses (724 ) (674 ) (855 ) (3,048 )
       
EBITDA 465   185   229   771  
 
Depreciation and Amortisation expense (261 ) (209 ) (212 ) (848 )
 
Net Finance Expenses (53 ) (57 ) (58 ) (180 )
 
Other Income 12 4 25 51
 
Profit from sale of shares in affiliate and rights therein - - - 658
       
Profit / (loss) Before tax 163   (76 ) (16 ) 452  
 
Income Taxes - - - -
       
Profit / (loss) for the period 163   (76 ) (16 ) 452  
 
 

Reconciliation with Non-GAAP measure

 
Profit / (loss) for the period 163 (76 ) (16 ) 452
Add:
Depreciation and Amortisation expense 261 209 212 848
 
Net Finance Expenses 53 57 58 180
Less:
Other Income (12 ) (4 ) (25 ) (51 )
 
Profit from sale of shares in affiliate and rights therein - - - (658 )
       
EBITDA 465   186   230   771  
 

BUSINESS HIGHLIGHTS:

Telecom business

  • Domestic Data Services grew by 29% over same quarter last year.
  • Wholesale Voice Services grew by 34% over same quarter last year.
  • Sify’s focus on Emerging Enterprise is beginning to show good results in Orders and Revenue.
  • International Data Services grew by 75% over the same quarter last year.

Data Center business

  • The business added additional capacity by way of a 10 Megawatt Tier III Data Center facility at Noida, near Delhi. This Data Center has received design certification by the Uptime institute, and the first phase is now open to business.
  • Six new customers were signed up this quarter, one of them being a prominent public sector bank.
  • One of the largest international Telco players has expanded and consolidated their business with us in a new multi-year contract.
  • A major Indian bank consolidated their Near-DR business into a large multi-year DC & DR contract.

Cloud and Managed services

  • Cloud and Managed Services has grown 62% over same quarter last year.
  • Among the 9 new clients added this quarter are an international health conglomerate, a pharma major and the integrated civic transportation authority of India’s most populous state.

Applications services

  • Domestic Applications business, excluding portals grew by 60% from the same quarter last year.
  • The web application business won a significant contract from a division of one of the world’s largest employers.
  • They also won two large corporate clients in the Sales and Distribution vertical.
  • Four new clients were signed up for Talent Management this quarter.
  • New eLearning contracts include a global pharma major in the US and a chemical manufacturing company in the Middle East.
  • Sify.com registered a YoY growth of 42% vis-à-vis same time last year and continues to be one of the largest horizontal portals in India.
  • Sify Finance continues to be the 3rd top destination for financial information and has grown over 400% since last year.

Technology Integration services

  • Technology Integration Business grew by over 200% over the same quarter last year.
  • This business brought in the largest deal for the quarter, signing up one of India’s largest Non-Bank Financial Companies (NBFC) in a multi-crore, multi-year deal as their strategic IT services partner.
  • 24 new clients have been signed up by the business in this quarter.

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 1100 cities and towns in India.

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