The company’s profit after tax (PAT) for the quarter was Rs 329 million, an increase of 91% over the same quarter last year, the company said in a statement on Friday.
“Lessons learned from dealing with the first wave of the pandemic have stood us in good stead as we continue to provide mission-critical ICT services in a challenging environment,” said Raju Vegesna, Chairman of Sify. “India has quickly bounced back from the second wave with enterprises slowly returning to at-office business. Mid-sized businesses, which bore the brunt of the pandemic, are becoming more active in the market for automation solutions.”
He went on to add that this year, critical requirements like the National Data Policy and continued remote access will push security to the top of the priority list for enterprises which is also expected to accelerate the interest in data center space on a pan-India basis.
“With industries and people steadily returning to work, digitalization decisions are being accelerated. The trends of the previous quarters continue to be relevant, resulting in sustained interest in our Cloud@core portfolio of services. Work from anywhere, migration to hosted DC and hybrid cloud platforms, strengthening of disaster recovery plans to enable business continuity, application modernization – all these market trends are reflected in our current customer engagements,” Kamal Nath, CEO of Sify, said.
Nath said the data center co-location business is one of the fastest growing segments in India and is led by hyperscale cloud providers, followed by enterprises and supporting telecommunications players. He said he expects this to drive the company’s future growth, alongside cloud, network and digital services businesses.
“The operating performance has been stable. We continue to invest in expansion of our data centers, network connectivity and digital services. We will stay focused on our cost efficiency and liquidity management, given that the economic recovery is still regaining lost ground due to the pandemic,” M P Vijay Kumar, CFO, said.
Sify’s cash balance at the end of the quarter was Rs 3515 million and its capex during the quarter was Rs 917 million.
