Sify reports Consolidated Financial Results for Q1 FY 2022-23
July 22 2022 - 7:57AM
HIGHLIGHTS
- Revenue was INR 7709
Million, an increase of 20% over the same quarter last
year.
- EBITDA was INR 1525 Million,
an increase of 5% over the same quarter last year.
- Profit before tax was INR
395 Million, a decrease of 10% over the same
quarter last year.
- Profit after tax was INR 271
Million, a decrease of 18% over the same quarter last
year.
- CAPEX during the quarter was
INR 2241 Million.
(IN INR MILLION) |
Q1 2022-23 |
FY 2021-22 |
EQUITY |
14753 |
14476 |
|
|
|
BORROWINGS |
|
|
Long term |
7702 |
7769 |
Short term |
6855 |
7483 |
MANAGEMENT COMMENTARY
Mr. Raju Vegesna, Chairman,
said, “The last couple months has seen shifting winds in the
macroeconomics of the world. Right through, India has retained a
strong outlook for investments and growth. This is in large part
due to the consistent economic policies of the government and its
stated ambition to pursue digital methods to deliver social
benefits.
The technology landscape has been the biggest
beneficiary of these policies, and this is reflected in the growing
number of incoming requests for Digital Transformation. We see
Indian enterprises using this opportunity to adopt the best
practices from around the world”.
Mr. Kamal Nath, CEO, said,
“Enterprises are displaying a growing comfort in digital adoption
across all levels. They are leveraging digital transformation to
spark innovation across the enterprise, and this is resulting in an
increasing number of new initiatives delivered on a digital-only
platform.
While earlier, our mandate was to accelerate our
clients’ transformation goals, our cloud-focused Digital
initiatives are now called upon to create new business processes,
customer experiences and greater cost-effectiveness.
Enterprises’ increasing interest in
outcome-based initiatives, incoming policies around data and the
government’s aggressive adoption around all-things-digital should
act as tailwinds for our Data Center, Network and Digital
services”.
Mr. M P Vijay Kumar, CFO, said,
“We remain committed to expanding our data center and network
footprint and are gradually scaling up the adoption of renewable
energy in our data centers. Investment into people and tools will
be complimentary to this growth, without losing sight of our fiscal
roadmap.
As we scale, our focus would be on ensuring that
costs are optimized and revenues are improved across our service
mix.
Cash balance at the end of the quarter was INR
3794 Million”.
BUSINESS HIGHLIGHTS
- The Revenue split between the
businesses for the quarter was Data Center colocation services 34%,
Digital services 26% and Network services 40%.
Business Revenue (INR Millions) |
Q1 FY 2022-23 |
Q1 FY 2021-22 |
FY 2021-22 |
% Growth Q1 2022-23 vs Q1 2021-22 |
Data Center services |
2616 |
1680 |
7494 |
56% |
Digital Services |
2038 |
2008 |
7520 |
1% |
Network services |
3055 |
2763 |
12012 |
11% |
TOTAL |
7709 |
6451 |
27026 |
|
- During the quarter, Sify has
invested USD 150,000 in startups in the Silicon Valley area as part
of our Corporate Venture Capital initiative. To date, the
cumulative investments stand at USD 3.44 Millions.
- Sify commissioned incremental
capacity of 4MW across Noida and Hyderabad data center facilities
in the quarter.
- As on June 30, 2022, Sify provides
services via 824 fiber nodes and 1910 wireless base stations across
the country, a 11% and 5% increase respectively over the same
quarter last year.
- The network connectivity services
crossed a critical milestone of deploying more than 5000 SDWAN
service points across the country.
CUSTOMER ENGAGEMENTS
Among the most prominent new contracts during the quarter were
the following:
Data Center Services
- International players who colocated
in Sify Data Center included a cloud security company, multiple
cloud contact center software providers and an application security
and multi-cloud management player.
- Among those who opted to migrate
from on-premise DC to Sify DC were an international digital studio,
a private bank and a co-operative society.
- A domestic banking major expanded
their DC and DR infrastructure with hosting in Sify DC.
Digital services
- One of the country’s premier steel
major contracted to refresh and augment their network managed
services.
- Industry majors from Steel, Life
Insurance, eCommerce and infrastructure contracted to migrate from
on-premise DC to our Cloud platform.
- A MNC steel player and a private
health care provider contracted for Greenfield cloud projects.
- An apex body for insurance
information contracted to augment and refresh of their
infrastructure managed services.
- A power regulatory authority
contracted to set up a Security Operations Center and for managed
services.
- Contracts for services such as
DRaaS, PaaS and IaaS included major players from the hosiery, IT,
Renewable energy, health care and banking sectors.
- The regulatory body for insurance, a
consumer durables manufacturer, an insurance player and a logistics
major contracted for managed services.
- A home-grown chemical major csigned
a multiyear managed security services contract.
- Multiple players from Insurance, one
of the country’s premier stock exchanges, a shipping major, one of
the the largest public sector banks and an investigation agency
contracted for Hardware Security modules for data protection.
Network Services
- A subsidiary of the Central bank
responsible for payment infrastructure contracted for Data Center
Interconnect, network for storage replication and DC Traffic.
- One of the oldest international
names in the financial media industry, a multinational investment
bank and an international car major contracted for an independent
network.
- One of the oldest supply chain
management players contracted for a full refresh of their network
connectivity.
- AMS-IX India, a carrier-neutral,
open Internet Exchange, is now operational at Kolkata and
Hyderabad.
FINANCIAL HIGHLIGHTS
Unaudited Consolidated Income Statement as per
IFRS |
|
|
|
|
(In INR millions) |
|
|
|
|
|
|
Quarter ended |
Quarter ended |
Quarter ended |
Year ended |
|
Description |
June |
June |
March |
March |
|
|
2022 |
2021 |
2022 |
2022 |
|
|
|
|
|
(Audited) |
|
|
|
|
|
|
|
Revenue |
7,709 |
|
6,451 |
|
6,805 |
|
27,026 |
|
|
Cost of Revenues |
(4,910 |
) |
(3,906 |
) |
(4,076 |
) |
(16,042 |
) |
|
Selling, General and Administrative Expenses |
(1,274 |
) |
(1,091 |
) |
(1,194 |
) |
(4,944 |
) |
|
|
|
|
|
|
|
EBITDA |
1,525 |
|
1,454 |
|
1,535 |
|
6,040 |
|
|
|
|
|
|
|
|
Depreciation and Amortisation expense |
(927 |
) |
(802 |
) |
(855 |
) |
(3,298 |
) |
|
Net Finance Expenses |
(281 |
) |
(227 |
) |
(268 |
) |
(1,025 |
) |
|
Other Income (including exchange gain) |
78 |
|
17 |
|
56 |
|
131 |
|
|
Other Expenses (including exchange loss) |
- |
|
(2 |
) |
- |
|
- |
|
|
|
|
|
|
|
|
Profit before tax |
395 |
|
440 |
|
468 |
|
1,848 |
|
|
Current Tax |
(163 |
) |
(118 |
) |
(185 |
) |
(640 |
) |
|
Deferred Tax |
39 |
|
7 |
|
42 |
|
50 |
|
|
Profit for the period |
271 |
|
329 |
|
325 |
|
1,258 |
|
|
|
|
|
|
|
|
Profit attributable to: |
|
|
|
|
|
Reconciliation with Non-GAAP measure |
|
|
|
|
|
Profit for the period |
271 |
|
329 |
|
325 |
|
1,258 |
|
|
Add: |
|
|
|
|
|
Depreciation and Amortisation expense |
927 |
|
802 |
|
855 |
|
3,298 |
|
|
Net Finance Expenses |
281 |
|
227 |
|
268 |
|
1,025 |
|
|
Other Expenses (including exchange loss) |
- |
|
2 |
|
- |
|
- |
|
|
Current Tax |
163 |
|
118 |
|
185 |
|
640 |
|
|
Less: |
|
|
|
|
|
Deferred Tax |
(39 |
) |
(7 |
) |
(42 |
) |
(50 |
) |
|
Other Income (including exchange gain) |
(78 |
) |
(17 |
) |
(56 |
) |
(131 |
) |
|
EBITDA |
1,525 |
|
1,454 |
|
1,535 |
|
6,040 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
About Sify TechnologiesA 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, 2022, 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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