CCity-based information and communications technology solutions provider Sify Technologies on Saturday said the company reported a net profit of Rs 356 million for the quarter ending September 30, 2021, against Rs 257 million in the corresponding quarter last year.
The revenue stood at Rs 6,986 million against Rs 5,899 million.
Earnings before interest, tax, depreciation and amortisation (EBITDA) was Rs 1,477 million against Rs 1,189 million. The capital expenditure was Rs 1,497 million.
CFO of the company M P Vijay Kumar said, “We continue to stay focused on expanding our data centre footprint along with our network reach and delivery capabilities in our digital services. Operatin performance continues to be stable. While the economic recovery is healthy, a positive sign, we will continue to be vigilant on cost efficiency, capital allocation and liquidity management.”
CEO Kamal Nath said, “As declared earlier, the creation of two subsidiaries — Sify Infinit Spaces Ltd and Sify Digital Services Ltd — was to ensure that we can focus our strategy and investments in line with the evolving market conditions. Our financial results endorse this decision.”
Chairman Raju Vegesna said, “The country has bounced back remarkably well from the pandemic, with businesses reporting near pre-pandemic results.Through the course of multiple lockdowns, the government set the pace by enabling critical IT infrastructure and following that up with aggressive adoption of automation for last mile delivery of welfare services.” “..combined with geo-political changes has made the country increasingly attractive to MNCs as the next destination for IT infrastructure. We expect these tailwinds to create new opportunities for Sify,” he added.