Sify reports Consolidated financial results for Third quarter of 2021-22
January 24 2022 - 7:00AM
HIGHLIGHTS
- Revenue was INR 6783
Million, a growth of 8% over the same quarter last
year.
- EBITDA was INR 1574 Million,
an increase of 22% over the same quarter last year.
- Profit before tax for the
quarter was INR 477 Million, an increase of 19% over the same
quarter last year.
- Profit after tax was INR 344
Million, an increase of 36% over the same quarter last
year.
- CAPEX during the quarter was
INR 2887 Million.
(IN INR MILLION) |
Q3 FY 2021-22 |
Q3 FY 2020-21 |
EQUITY |
14227 |
12070 |
|
|
|
BORROWINGS |
|
|
Long term |
7717 |
6592 |
Short term |
4796 |
3606 |
|
|
|
Cash balance |
2381 |
4431 |
MANAGEMENT COMMENTARY
Mr. Raju Vegesna, Chairman,
said, “Given the proactive governance through the
pandemic, India is better placed through the third phase that we
are currently experiencing. Digital IT infrastructure across the
country has been scaled up aggressively since Networks and Data
Centers were declared ‘Essential’ services. Indian businesses are
now convinced of the importance of business process continuity and
converged services for seamless business output.
“This has led to both a surge of services from
Cloud based local startups and growing hyperscale investment in
Indian IT infrastructure. We see this as a right time for Sify to
scale up.”
Mr. Kamal Nath, CEO, said,
“Enterprises looking for cloud-based Digital Transformation
services see our Digital-first bouquet of services as a natural fit
for their evolving business demands. We are seeing an upswing in
demand for our cloud@core services as the right delivery model for
these demands. Our successful delivery for Hyperscalers is a strong
endorsement of our agility and capability on the Data Center front
and increases the attractiveness of our Data Centers to our
Enterprise clients. With the market learning to work around the
pandemic, these demands should continue.”
Mr. M P Vijay Kumar, CFO, said,
“The customer demand for digital infrastructure services is
encouraging. We will continue to expand on our Data center and
network capacity. Our fiscal discipline will continue right through
our investment journey without impacting customer experience.”
“Cash balance at the end of the quarter was INR
2381 Million.”
BUSINESS SUMMARY
- Revenue from Data Center colocation
services grew by 44% over same quarter last year.
- Revenue from Digital services fell
by 18% over same quarter last year
- Revenue from Network centric
services grew by 8% over same quarter last year.
The Revenue split between the businesses during
the quarter was Data Center colocation services 30%, Digital
Services 24% and Network centric services 46%.
BUSINESS HIGHLIGHTS
- As part of our
Corporate Venture Capital initiative, Sify has further invested,
during the quarter, USD 100,000 in the earlier announced start-ups
in the Silicon Valley area.
- Sify committed
to a capital outlay of INR 9900 Million toward fresh capacity
building for data center expansion in the Navi Mumbai region. This
is in addition to the capital outlay of INR 1200 Million for
expansion of DC capacity in the same region.
- Sify
Technologies has been recognized as a “Niche Player” in the 2021
Gartner Magic quadrant for Managed Network services. The
recognition is for completeness of vision and ability to execute
leading to superior quality of service.
- The business
continues to grow the reach of the network. As on Dec 31, 2021,
Sify provides services via 769 fiber nodes and 1893 wireless base
stations across the country, a 6% and 11% increase respectively
over the same quarter last year.
- As part of its
Digital Experience Project, Sify completed full automation of
service assurance, asset management and service provisioning across
its network. This will accelerate the deployment of a streamlined
customer experience in the coming quarters.
CUSTOMER ENGAGEMENTS
- One of India’s oldest MNCs, the
subsidiary of an Industrial engineering major, and one of India’s
oldest FMCG players contracted to migrate from their on-premise DC
to our Cloud platforms.
- A subsidiary of one of the oldest
Indian MNCs, a pan-India health chain and a leisure major
contracted for a greenfield cloud implementation.
- An automobile finance major, a
software player and organic dairy major contracted for DRaaS.
- An NBFC, a micro banking player and
a private ISP player migrated from the competition to Sify DC.
- One of India’s largest Private banks
and two other established Public sector banks migrated from their
on premise DC to Sify DC. The private bank also contracted for
Managed Cloud services.
- A scheduled bank contracted with
Sify for modernisation of their DC.
- Multiple logistics players, a
medical research institution and an infrastructure services player
contracted for managed services.
- One of India’s largest public sector
insurance firms contracted for a Security Operations Center
on-premises and also to deploy Managed services.
- One of India's largest Public sector
banks contracted with Sify for a pan-India MPLS network.
- A leading small-finance bank
contracted with Sify to provide seamless connectivity solution
across all its branches and supplier base.
- An international banking major
contracted for global connectivity to connect its sites in India to
its global locations.
- A private service insurance major,
as part of its data center transformation project, signed a
contract for a multi cloud network integrated with its data center
interconnect.
- A scheduled bank contracted to
expand its SDWAN deployment to support its branch expansion.
- One of India's oldest steel majors
contracted for a complete Network integration, including managed
services, while a Public sector bank contracted for Network
monitoring and management services across their entire
network.
- An automobile major contracted to
augment the Network infrastructure at its DC and branches.
- Network services signed up 61 new
clients for the quarter.
FINANCIAL HIGHLIGHTS
Sify
Technologies Limited |
|
|
|
|
|
|
|
Unaudited Consolidated Income Statement as per
IFRS |
|
|
(In
INR millions) |
|
|
|
|
Quarter
ended |
Quarter
ended |
Quarter
ended |
Description |
December |
December |
September |
|
2021 |
2020 |
2021 |
|
|
|
|
|
|
|
|
Revenue |
6,783 |
|
6,301 |
|
6,986 |
|
Cost of
Revenues |
(3,931 |
) |
(3,936 |
) |
(4,201 |
) |
Selling,
General and Administrative Expenses |
(1,278 |
) |
(1,074 |
) |
(1,308 |
) |
|
|
|
|
EBITDA |
1,574 |
|
1,291 |
|
1,477 |
|
|
|
|
|
Depreciation
and Amortisation expense |
(836 |
) |
(710 |
) |
(790 |
) |
Impairment
loss on goodwill |
(15 |
) |
- |
|
- |
|
Net Finance
Expenses |
(278 |
) |
(217 |
) |
(252 |
) |
Other Income
(including exchange gain) |
32 |
|
36 |
|
33 |
|
Other
Expenses (including exchange loss) |
- |
|
- |
|
(7 |
) |
|
|
|
|
Profit before tax |
477 |
|
400 |
|
461 |
|
Current Tax |
(129 |
) |
(156 |
) |
(205 |
) |
Deferred Tax |
(4 |
) |
9 |
|
100 |
|
Profit for the period |
344 |
|
253 |
|
356 |
|
|
|
|
|
Profit attributable to: |
|
|
|
Reconciliation with Non-GAAP measure |
|
|
|
Profit for the period |
344 |
|
253 |
|
356 |
|
Add: |
|
|
|
Depreciation
and Amortisation expense |
836 |
|
710 |
|
790 |
|
Impairment
loss on goodwill |
15 |
|
- |
|
- |
|
Net Finance
Expenses |
278 |
|
217 |
|
252 |
|
Other
Expenses (including exchange loss) |
- |
|
- |
|
7 |
|
Income tax
expense |
129 |
|
156 |
|
205 |
|
Less: |
|
|
|
Deferred Tax |
4 |
|
(9 |
) |
(100 |
) |
Other Income (including exchange gain) |
(32 |
) |
(36 |
) |
(33 |
) |
|
|
|
|
EBITDA |
1,574 |
|
1,291 |
|
1,477 |
|
About Sify Technologies
A Fortune India 500 company, Sify Technologies
is India’s most comprehensive ICT service & solution provider.
With Cloud at the core of our solutions portfolio, Sify is focussed
on the changing ICT requirements of the emerging Digital economy
and the resultant demands from large, mid and small-sized
businesses.
Sify’s infrastructure comprising the largest
MPLS network, top-of-the-line DCs, partnership with global
technology majors, vast expertise in business transformation
solutions modelled on the cloud make it the first choice of
start-ups, incoming Enterprises and even large Enterprises on the
verge of a revamp.
More than 10000 businesses across multiple
verticals have taken advantage of our unassailable trinity of Data
Centers, Networks and Security services and conduct their business
seamlessly from more than 1600 cities in India. Internationally,
Sify has presence across North America, the United Kingdom and
Singapore.
Sify, www.sify.com, Sify Technologies and
www.sifytechnologies.com are registered trademarks of Sify
Technologies Limited.
Forward Looking Statements
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. The forward-looking statements
contained herein are subject to risks and uncertainties that could
cause actual results to differ materially from those reflected in
the forward-looking statements. Sify undertakes no duty to update
any forward-looking statements.
For a discussion of the risks associated with
Sify’s business, please see the discussion under the caption “Risk
Factors” in the company’s Annual Report on Form 20-F for the year
ended March 31, 2021, which has been filed with the United States
Securities and Exchange Commission and is available by accessing
the database maintained by the SEC at www.sec.gov, and Sify’s other
reports filed with the SEC.
For further information, please contact:
Sify Technologies LimitedMr. Praveen
KrishnaInvestor Relations & Public Relations+91 44 22540777
(ext.2055)praveen.krishna@sifycorp.com |
Grayling Investor RelationsLucia
Domville+1-646-824-2856Lucia.Domville@grayling.com |
20:20 Media Nikhila Kesavan+91
9840124036nikhila.kesavan@2020msl.com |
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