NE BUSINESS BUREAU
CHENNAI, JULY 23
Sify Technologies reported a net profit of Rs 27 crore for the first quarter ended June 30, 2022, an 18 percent decline when compared with Rs 33 crore in the same period last year. Revenue was up by 20 percent at ₹771 crore.
Capex during the quarter was at Rs 224 crore, the Chennai, US-based company said in a release on Friday.
During the quarter, Sify invested $150,000 in start-ups in the Silicon Valley area as part of its Corporate Venture Capital initiative. To date, cumulative investments stand at $3.44 million. It commissioned incremental capacity of 4 MW across its Noida and Hyderabad data centre facilities in the quarter.
- Revenue was Rs 771 crore, an increase of 20% over the same quarter last year.
- EBITDA was Rs 152.5 crore, an increase of 5% over the same quarter last year.
- Profit before tax was Rs 39.5 crore, a decrease of 10% over the same quarter last year.
- CAPEX during the quarter was Rs 224.1 crore
As on June 30, 2022, Sify provides services via 824 fibre nodes and 1,910 wireless base stations across the country, a 11 percent and 5 percent increase, respectively, over the same quarter last year, the release said.
Raju Vegesna, Chairman, Sify, said the last couple of months have seen shifting winds in the world of macroeconomics. Right through, India has retained a strong outlook for investments and growth. This is in large part due to the consistent economic policies of the government and its ambition to pursue digital methods to deliver social benefits.
MP Vijay Kumar, CFO, Sify, said, “We remain committed to expanding our data centre and network footprint and are gradually scaling up the adoption of renewable energy in our data centres. Investment in people and tools will be complimentary to this growth, without losing sight of our fiscal roadmap. As we scale, our focus would be on ensuring that costs are optimised and revenues are improved across our service mix. Cash balance at the end of the quarter was Rs 379 crore”.
FINANCIAL HIGHLIGHTS
