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Revenues of INR 7938 Million. EBITDA of INR 1509 Million.
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EARNING CALLS DETAILS October 21, 2022 | 8:30 AM ET
On the decision: Mr. Raju Vegesna-Chairman, Mr. Kamal Nath-CEO & Mr. M P Vijay Kumar-CFO
To be a part of: +1-888-506-0062 (Toll Free within the U.S. or Canada) or +1-973-528-0011 (International).
Live webcast: https://www.webcaster4.com/Webcast/Page/2184/46822
Archives: +1-877-481-4010 (Toll Free within the U.S. or Canada) or +1-919-882-2331 (International). On immediate, please enter passcode 46822. Replay is offered till October 28, 2022.
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CHENNAI, India, Oct. 21, 2022 (GLOBE NEWSWIRE) —
HIGHLIGHTS
- Revenue was INR 7938 Million, a rise of 14% over the identical quarter final 12 months.
- EBITDA was INR 1509 Million, a rise of two% over the identical quarter final 12 months.
- Profit earlier than tax was INR 220 Million, a lower of 52% over the similar quarter final 12 months.
- Profit after tax was INR 112 Million, a lower of 69% over the identical quarter final 12 months.
- CAPEX throughout the quarter was INR 2234 Million.
| (IN INR MILLION) | 30.09.2022 | 31.03.2022 |
| EQUITY | 14,850 | 14,476 |
| BORROWINGS | ||
| Long time period | 9067 | 7769 |
| Short time period | 7622 | 7483 |
MANAGEMENT COMMENTARY
Mr. Raju Vegesna, Chairman, stated, “India has displayed remarkable insulation against the global recession sentiments. This is due to the country’s strong fiscal fundamentals and its attractiveness as a safe investment geography. The Government has ensured that the economic agenda stays the course and digital ambitions begin to deliver the intended social welfare gains.
The influx of MNCs is bringing both opportunities and technologies to our shores. Domestic Enterprises and Start-ups are banking on this positive sentiment to accelerate their Digital transformation journey. The future is full of promises and possibilities.”
Mr. Kamal Nath, CEO, stated, “Indian Enterprises have fast-tracked their digital initiatives based on their success navigating the pandemic and are now operationalizing pandemic-era innovations. Enterprise priorities are building businesses-aligned digital models, enhancing end user experience, deploying resilient business continuity models and mitigating security risks.
Our Data Center and Cloud services, Digital and Network services are all important building blocks to enable customers’ business priorities, and we expect each of the businesses to grow with the related investments.”
Mr. M P Vijay Kumar, CFO, stated, “We are leveraging demand to aggressively build capacity across our Data Centers. Investment into Network and tools will be in accordance with this demand, without losing sight of fiscal discipline.
With increase in capacity utilization, we should see our digital services find demand and further contribute to the revenue mix.
Cash balance at the end of the quarter was INR 2775 Million.”
BUSINESS HIGHLIGHTS
- The Revenue break up between the companies for the quarter was Data Center colocation providers 32%, Digital providers 25% and Network providers 43%.
| Business Revenue (INR Millions) |
Q2 FY 2022-23 | Q2 FY 2021-22 | FY 2021-22 | % Growth Q2 2022-23 vs Q2 2021-22 |
| Data Center providers | 2547 | 1851 | 7494 | 37.60 |
| Digital Services | 2004 | 2174 | 7520 | (7.82) |
| Network providers | 3387 | 2961 | 12012 | 14.39 |
| TOTAL | 7938 | 6986 | 27026 |
- During the quarter, Sify has invested USD 772,000 in start-ups within the Silicon Valley space as a part of our Corporate Venture Capital initiative. To date, the cumulative investments stand at USD 4.21 Millions.
- Sify commissioned incremental capability of 5MW on the Hyderabad information heart within the quarter.
- As on September 30, 2022, Sify supplies providers through 834 fiber nodes and 1880 wi-fi base stations throughout the nation, a ten% and a couple of% improve respectively over the identical quarter final 12 months.
- The community connectivity providers has now deployed 5600 SDWAN service factors throughout the nation.
CUSTOMER ENGAGEMENTS
Among probably the most distinguished new contracts throughout the quarter have been the next:
Data Center Services
- International gamers who signed up for Data Center house embrace a social media community, a credit standing company and a cloud safety firm.
- Migration from the competitors to Sify DC included a nationalized financial institution and the federal government’s rural improvement authority.
- The nation’s premier resort chain, a cellular engagement platform, a provide chain main and a regional broadband service supplier contracted emigrate from their on-premise DC to Sify DC.
Digital providers
- Industry majors from Insurance, IT, Healthcare, retail and NBFC contracted emigrate from on-premise DC to our Cloud platform.
- A cloud-based payroll processing participant and a NBFC contracted for Greenfield cloud initiatives.
- An Indian conglomerate signed as much as construct a Campus community and managed providers.
- A big Public Sector financial institution, a state authorities physique, a personal insurance main and a home agrochemical producer renewed their managed providers contract.
- A nationwide insurance info physique, a personal insurance participant and an NBFC signed up for DC and Infra managed providers.
- Two state governments, a few insurance majors, a pan-India retail participant, a software program start-up and the cyber wing of a state authorities contracted for providers comparable to DRaaS, PaaS and IaaS.
- A big personal financial institution contracted to develop their Data Center.
- A State cooperative financial institution contracted for safety infrastructure and managed providers.
Network Services
- An worldwide Cloud safety firm, a worldwide expertise firm and two Private banks contracted to have their networks constructed.
- A big Public insurance firm, an edutech unicorn and the housing division of a Public sector insurance participant contracted for managed and safe SDWAN service.
- One of the most important Private banks contracted for Cloud connectivity community.
- A subsidiary of the Central financial institution accountable for cost infrastructure contracted to develop their WiFi footprint throughout their location.
- A world consulting main and a cooperative financial institution contracted for collaboration providers.
- The business rolled out trials of its absolutely automated self-service portal, permitting clients to provision network-on-demand for greater than 200 areas.
- Sify acquired the gateway license for Kolkata, making it the third worldwide gateway.
| FINANCIAL HIGHLIGHTS | ||||||
| Unaudited Consolidated Income Statement as per IFRS | ||||||
| (In INR thousands and thousands) | ||||||
| Quarter ended | Quarter ended | Quarter ended | ||||
| Description | September | September | June | |||
| 2022 | 2021 | 2022 | ||||
| Revenue | 7,938 | 6,986 | 7,709 | |||
| Cost of Revenues | (4,988 | ) | (4,201 | ) | (4,910 | ) |
| Selling, General and Administrative Expenses | (1,441 | ) | (1,308 | ) | (1,274 | ) |
| EBITDA | 1,509 | 1,477 | 1,525 | |||
| Depreciation and Amortisation expense | (956 | ) | (790 | ) | (927 | ) |
| Net Finance Expenses | (362 | ) | (252 | ) | (281 | ) |
| Other Income (together with alternate achieve) | 29 | 33 | 78 | |||
| Other Expenses (together with alternate loss) | – | (7 | ) | – | ||
| Profit earlier than tax | 220 | 461 | 395 | |||
| Current Tax | (167 | ) | (205 | ) | (163 | ) |
| Deferred Tax | 59 | 100 | 39 | |||
| Profit for the interval | 112 | 356 | 271 | |||
| Profit attributable to: | ||||||
| Reconciliation with Non-GAAP measure | ||||||
| Profit for the interval | 112 | 356 | 271 | |||
| Add: | ||||||
| Depreciation and Amortisation expense | 956 | 790 | 927 | |||
| Net Finance Expenses | 362 | 252 | 281 | |||
| Other Expenses (together with alternate loss) | – | 7 | – | |||
| Current Tax | 167 | 205 | 163 | |||
| Less: | ||||||
| Deferred Tax | (59 | ) | (100 | ) | (39 | ) |
| Other Income (together with alternate achieve) | (29 | ) | (33 | ) | (78 | ) |
| EBITDA | 1,509 | 1,477 | 1,525 | |||
About Sify Technologies
A Fortune India 500 firm, Sify Technologies is India’s most complete ICT service & resolution supplier. With Cloud on the core of our options portfolio, Sify is focussed on the altering ICT necessities of the rising Digital economy and the resultant calls for from massive, mid and small-sized companies.
Sify’s infrastructure comprising the most important MPLS community, top-of-the-line DCs, partnership with world expertise majors, huge experience in business transformation options modelled on the cloud make it the primary selection of start-ups, incoming Enterprises and even massive Enterprises on the verge of a revamp.
More than 10000 companies throughout a number of verticals have taken benefit of our unassailable trinity of Data Centers, Networks and Security providers and conduct their business seamlessly from greater than 1600 cities in India. Internationally, Sify has presence throughout North America, the United Kingdom and Singapore.
Sify, www.sify.com, Sify Technologies, Sify infinit areas restricted, Sify Digital Spaces restricted and www.sifytechnologies.com are registered emblems of Sify Technologies Limited.
Forward Looking Statements
This press launch incorporates forward-looking statements throughout the which means 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 topic to dangers and uncertainties that might trigger precise outcomes to vary materially from these mirrored within the forward-looking statements. Sify undertakes no obligation to replace any forward-looking statements.
For a dialogue of the dangers related to Sify’s business, please see the dialogue underneath the caption “Risk Factors” within the firm’s Annual Report on Form 20-F for the 12 months ended March 31, 2022, which has been filed with the United States Securities and Exchange Commission and is offered by accessing the database maintained by the SEC at www.sec.gov, and Sify’s different reports filed with the SEC.
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