The company’s Ebitda increased by 24 per cent to Rs 1477 million. Profit after tax was Rs 356 million, an increase of 39 per cent over the same quarter last year. Capex during the quarter was Rs 1497 million and cash balance at end of quarter was Rs 2820 million.
“India has bounced back remarkably well from the pandemic, with businesses reporting near pre-pandemic results,” Raju Vegesna, Chairman of Sify Technologies said. “Similar initiatives have rapidly been adopted by small and medium enterprises, driving demand for services like data centers and networks. That, combined with geo-political changes, has made India increasingly attractive to MNC enterprises as the next destination for IT infrastructure. We expect these tailwinds to create new opportunities for Sify”.
The company said that with the return in market sentiment, there is aggression in customers’ decision-making in all forms of digitalization.
“As declared earlier, the creation of the two subsidiaries; Sify Infinite Spaces Limited and Sify Digital Services Limited under the parent, Sify Technologies Limited, was to ensure that we can focus our strategy and investments in line with the evolving market conditions. Our financial results endorse this decision,” Kamal Nath, CEO of Sify said.
During the quarter, Sify also invested in procuring renewable energy for its data center in Mumbai to the tune of Rs 225 million. Sify said it has delivered 74 MW of data center capacity as on September 30, 2021.
“We continue to stay focused on expanding our data center footprint, along with our network reach and delivery capabilities in our digital services. The operating performance continues to be stable. While the economic recovery is a healthy, positive sign, we will continue to be vigilant on cost efficiency, capital allocation and liquidity management,” M P Vijay Kumar, CFO of Sify said.
