Sify reports Consolidated Financial Results for Q3 FY 2022-23
25 Januar 2023 - 1:30PM
HIGHLIGHTS
- Revenue was INR 8,896
Million, an increase of 31% over the same quarter last
year.
- EBITDA was INR 1,619
Million, an increase of 3% over the same quarter last
year.
- Profit before tax was INR
227 Million, a decrease of 52% over the same
quarter last year.
- Profit after tax was INR 258
Million, a decrease of 25% over the same quarter last
year.
- CAPEX during the quarter was
INR 4,226 Million.
(IN INR MILLION) |
31.12.2022 |
31.03.2022 |
EQUITY |
15,110 |
14,476 |
BORROWINGS |
|
|
Long term |
13,111 |
7,769 |
Short term |
7,116 |
7,483 |
MANAGEMENT COMMENTARY
Mr. Raju Vegesna, Chairman,
said, “India’s resilience, demonstrated post covid, has firmly
established it as an economy that is not easily disturbed by
changes in the business environment. This, supported with an
aggressive adoption of digital tools, has worked well for the
economy.
The government’s larger agenda of ensuring that
social measures reach the intended beneficiaries is a work in
progress and will continue to drive domestic IT demand.
International demand is expected to continue due to the comparable
attractiveness of the Indian market, in spite of a tightening world
economy.
Viewed together, this works well for an economy
that is still at the early stages of realizing its potential.”
Mr. Kamal Nath, CEO, said,
“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, ED & Group CFO,
said, “Our investment into the Data Center side of the
business continues, with incoming demand from both retail and
hyperscale customers. We have scaled up investments in our fibre
network in select metro cities and in people for our digital
services business.
Network connectivity, Cloud interconnects and
the resultant investment in tools, process and people will augment
this demand.
Fiscal discipline will be a constant,
particularly in our investment process.
Cash balance at the end of the quarter was INR 4,256
Million.”
BUSINESS HIGHLIGHTS
- The Revenue split between the
businesses for the quarter was Data Center colocation services 27%,
Digital services 35% and Network services 38%.
Business Revenue (INR Millions) |
Q3 FY 2022-23 |
Q3 FY 2021-22 |
FY 2021-22 |
% GrowthQ3 2022-23 vsQ3 2021-22 |
Data Center services |
2409 |
2024 |
7494 |
19 |
Digital Services |
3155 |
1664 |
7520 |
90 |
Network services |
3332 |
3095 |
12012 |
8 |
TOTAL |
8896 |
6783 |
27026 |
31 |
- Sify commissioned incremental Data
Center capacity of 4.1 MW in the quarter.
- As on December
31,2022, Sify provides services via 846 fiber nodes across the
country, a 11% increase over same quarter last year.
- The network connectivity service has
now deployed 5900 SDWAN service points across the country.
- During the quarter, Sify has
invested USD 482,500 in start-ups in the Silicon Valley area as
part of our Corporate Venture Capital initiative. To date, the
cumulative investment stands at USD 4.69 Million.
CUSTOMER ENGAGEMENTS
Among the most prominent new contracts during the quarter were
the following:
Data Center Services
- An International banking major and
its subsidiary signed up to migrate from their on-premise DC to
Sify Data Center.
- A Public sector bank, a government
agricultural governing body, a State division and a private power
player migrated from the competition to Sify Data Center.
- A private finance player contracted
with Sify to modernize their Data Center.
Digital services
- A health services major and a
co-operative bank contracted for a Greenfield Cloud
implementation.
- A large public sector bank signed up
for private cloud storage at their on-premise Data Center.
- A large automobile major and a
Financial services major signed a multi-year contract to have their
infrastructure and managed services refreshed.
- A State Data Center, multiple
manufacturing majors and a power subsidiary of another state
government contracted for services such as DRaaS, PaaS and
IaaS.
- A Public sector and another State
cooperative bank signed up for security infrastructure and managed
services.
- A large Public sector Oil major and
a Public Sector bank has contracted to have their collaboration
infrastructure revamped across all their offices.
- A Public Sector banking major signed
up to have their on-premise Network Operations Center
refreshed.
Network Services
- Three of India’s top private banks
contracted Sify to significantly expand their networks.
- A subsidiary of the Central bank
contracted Sify for managed and secure SDWAN service.
- A private bank contracted Sify for
DCI and Cloud Network.
- A spirits major and a leading
chemical manufacturer signed up to have their entire edge network
transformed.
- Sify commissioned a 800G circuit for
a global IT leader as phase 1 of its Long haul network.
- During the quarter, Sify commenced
SDN platform trails for cloud interconnects.
FINANCIAL HIGHLIGHTS
Unaudited Consolidated Income Statement as per
IFRS |
|
|
(In INR millions) |
|
|
|
|
Quarter
ended |
Quarter
ended |
Quarter ended |
Description |
December |
December |
September |
|
2022 |
2021 |
2022 |
|
|
|
|
|
|
|
|
Revenue |
8,896 |
|
6,783 |
|
7,938 |
|
Cost of Revenues |
(5,767 |
) |
(3,931 |
) |
(4,988 |
) |
Selling, General and Administrative Expenses |
(1,510 |
) |
(1,277 |
) |
(1,441 |
) |
|
|
|
|
EBITDA |
1,619 |
|
1,575 |
|
1,509 |
|
|
|
|
|
Depreciation and Amortisation expense |
(996 |
) |
(836 |
) |
(956 |
) |
Impairment loss on goodwill |
- |
|
(15 |
) |
- |
|
Net Finance Expenses |
(420 |
) |
(278 |
) |
(362 |
) |
Other Income (including exchange gain) |
24 |
|
30 |
|
29 |
|
Other Expenses (including exchange loss) |
- |
|
- |
|
- |
|
|
|
|
|
Profit before tax |
227 |
|
476 |
|
220 |
|
Current Tax |
(92 |
) |
(129 |
) |
(167 |
) |
Deferred Tax |
123 |
|
(4 |
) |
59 |
|
Profit for the period |
258 |
|
343 |
|
112 |
|
|
|
|
|
Profit attributable to: |
|
|
|
Reconciliation with Non-GAAP measure |
|
|
|
Profit for the period |
258 |
|
343 |
|
112 |
|
Add: |
|
|
|
Depreciation and Amortisation expense |
996 |
|
836 |
|
956 |
|
Impairment loss on goodwill |
- |
|
15 |
|
- |
|
Net Finance Expenses |
420 |
|
278 |
|
362 |
|
Other Expenses (including exchange loss) |
- |
|
- |
|
- |
|
Income tax expense |
92 |
|
129 |
|
167 |
|
Less: |
|
|
|
Deferred Tax |
(123 |
) |
4 |
|
(59 |
) |
Other Income (including exchange gain) |
(24 |
) |
(30 |
) |
(29 |
) |
|
|
|
|
EBITDA |
1,619 |
|
1,575 |
|
1,509 |
|
|
|
|
|
|
|
|
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, Sify
Infinit Spaces limited, Sify Digital Services limited 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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