Sify reports Consolidated Financial Results for Q2 FY 2022-23

Sify reports Consolidated Financial Results for Q2 FY 2022-23

Revenues of INR 7938 Million. EBITDA of INR 1509 Million.

HIGHLIGHTS

• Revenue was INR 7938 Million, an increase of 14% over the same quarter last year.
• EBITDA was INR 1509 Million, an increase of 2% over the same quarter last year.
• Profit before tax was INR 220 Million, a decrease of 52% over the same quarter last year.
• Profit after tax was INR 112 Million, a decrease of 69% over the same quarter last year.
• CAPEX during the quarter was INR 2234 Million.  

MANAGEMENT COMMENTARY

Mr. Raju Vegesna, Chairman, said, “India has displayed remarkable insulation against the global recession senti ments. This is due to the country’s strong fiscal fundamentals and its attractiveness as a safe investment geogr aphy. The Government has ensured that the economic agenda stays the course and digital ambitions begin to deliver the intended social welfare gains.

The influx of MNCs is bringing both opportunities and technologies to our shores. Domestic Enterprises and St art-ups are banking on this positive sentiment to accelerate their Digital transformation journey. The future is full of promises and possibilities”. 

Mr. Kamal Nath, CEO, said, “Indian Enterprises have fast-tracked their digital initiatives based on their success navigating the pandemic and are now operationalizing pandemic-era innovations. Enterprise priorities are buil ding businesses-aligned digital models, enhancing end user experience, deploying resilient business continuity models and mitigating security risks.

Our Data Center and Cloud services, Digital and Network services are all important building blocks to enable cu stomers’ business priorities, and we expect each of the businesses to grow with the related investments”.

Mr. M P Vijay Kumar, CFO, said, “We are leveraging demand to aggressively build capacity across our Data Cen ters. Investment into Network and tools will be in accordance with this demand, without losing sight of fiscal di scipline. 

With increase in capacity utilization, we should see our digital services find demand and further contribute to the revenue mix.

Cash balance at the end of the quarter was INR 2775 Million”