Sify Reports Revenues of Rs 522.8 Crore for Third Quarter

Revenue for the quarter was Rs 522.8 crore, an increase of 13 percent over the same quarter last year. EBITDA for the quarter was Rs 70.2 crore, approximately the same as the same quarter last year. Net profit for the quarter was Rs 28.5 crore, an increase of 62 percent over the same quarter last year.

Revenue for the data and managed services business grew 11 percent over the same quarter last year. Overall, revenue for telecom business grew 2 percent primarily due to a reduction in revenue from India voice termination business. Key wins during the quarter include a large public-sector bank, an insurance company, a state power distribution company, and global R&D/engineering company. Sify’s focus on OTT/content providers continues to deliver growth with a large win from a fast growing global CDN player. The contract covers offerings around the network, colocation, and the Internet exchange lines of business. Sify also had two key wins in the network transformation and outsourcing category. A leading logistics company outsourced its network and security management and a leading financial services company signed up to transform and manage their network. Other key contracts won in this segment were from a global manufacturing and engineering conglomerate to deploy secure wireless mobility infrastructure across all its offices, and a PSU bank in India as they continue to drive the next generation of digitization in bank branches. The company also won its first IoT project of scale in this quarter from a logistics company to drive digitization of their supply chain.

Revenue from data center-centric IT services grew 25 percent over the same quarter last year. In response to market demand, Sify added an additional 1440 kW of capacity at its Mumbai data center. The company added some marque clients to their data center roster. Among them are an Indian MNC for their energy business, a content caching MNC at two of our data centers, an international OTT player to commission their content PoP for North India, and a world leader in the audio components industry. Sify signed up 14 new customers for cloud and managed services this quarter. The company signed up nine new customers for talent management and supply chain management and a significant government organization for digital security. Sify added 21 new clients this quarter for its technology integration services. A public-sector oil and gas major contracted with Sify to build their data center and manage its operations.