Profit

Sify second quarter profit increases 38.5% to 35.6 crore, Telecom News, ET Telecom


New Delhi: IT company Sify Technologies on Friday announced a 38.5% increase in its after-tax consolidated profit to Rs 35.6 crore for the second quarter ended September 30. The company had recorded Rs 25.7 crore in profit in the same quarter a year ago.

Sify Technologies’ consolidated revenue increased 18.42% to Rs 698.6 crore in the current quarter, compared to Rs 589.9 crore in the corresponding quarter of 2020-2021.

Sify made a capital expenditure of Rs 149.7 crore during the quarter and its cash balance stood at Rs 282 crore.

“India has recovered remarkably well from the pandemic, with companies reporting results close to pre-pandemic.

“During several blockades, the government has set the tone by allowing

IT infrastructure and tracking aggressive adoption of automation for last mile social service delivery, ”Sify Technologies President Raju Vegesna said in a statement.

Sify’s revenue from network-centric services grew 7%, data center services 47%, and digital services grew 17% year-over-year.

“As previously stated, the creation of the two subsidiaries: Sify Infinit Spaces Limited and Sify Digital Services Limited under the parent company, Sify Technologies Limited, was intended to ensure that we can focus our strategy and investments according to changing market conditions. Marlet. the results confirm this decision, ”said Kamal Nath, CEO of Sify Technologies.

The revenue split between businesses was network-centric services – 42 percent, data center services – 27 percent, and digital services – 31 percent.