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Actionable news in SIFY: Sify Technologies Limited,

Sify Technologies: Chennai, Tuesday, October 20, 2015

The following excerpt is from the company's SEC filing.

Sify Technologies Limited (NASDAQ: SIFY), a leader in Managed Enterprise, Network, IT and Applications services in India with global delivery capabilities, today announced

its consolidated results under International Financial Reporting Standards (IFRS) for the second quarter of fiscal year 2015-16.


Revenue for the quarter was INR 3715 million, an increase of about 18% over the same quarter last year.

EBITDA for the quarter was INR 663 million, an increase of 43% over the same quarter last year.

Net Profit for the quarter was INR 133 million, an increase of 48% over the same quarter last year.

CAPEX during the quarter was INR 669 million.

Cash balance at the end of the quarter was INR 1785 million.

Mr. Raju Vegesna, Chairman,

said, “Our sustained efforts at building a comprehensive ICT ecosystem is reflected in the results this quarter. Within India, our broad portfolio and cost competitiveness places us in a strong position to win multi-year contracts for managed services among Enterprises looking for a technology refresh.

The new government’s call for a digital revolution is finding resonance among the different agencies, who are adopting better methods of information dissemination through IT. State governments are also becoming increasingly aggressive in their push for IT with demand for multiple services. While Sify’s focus remains primarily on the Enterprise market, this renewed interest from the government sector is pushing the overall demand for IT services forward, and Sify is well-positioned to take advantage of these opportunities.

The North American market is beginning to gain traction with increasing references for our Managed Services. Our strategic alliance with Fujitsu, announced last quarter, will give us access to more clients and deeper engagements. In time, we should see this complementing our historical Indian market position.”

Mr. Kamal Nath, CEO,

said, “We have gained increased mindshare and wallet share for our services in both existing and new customer base. This quarter we have also seen growth in Public Sector business along with Enterprise segment which is a positive sign. Our integrated ICT services continue to lead our growth along with Infrastructure transformation projects.”

Mr. M P Vijay Kumar, CFO, said,

“We have continued the positive trajectory over the past several quarters resulting in a healthy EBITDA and improved Net Profit. This has come from the increased utilization of our assets on the ground and good market demand for our services. That said, the aim for the remainder of this year continues to be to optimise our assets while keeping a tight grip on our costs.

Cash balance at the end of the quarter was INR 1785 million.”

Financial Highlights

Unaudited Consolidated income statement as per IFRS

(In INR millions)

Quarter ended



Cost of Revenues




Selling, General and Administrative Expenses

Depreciation and Amortisation expense

Net Finance Expenses

Other Income

Profit for the period

Reconciliation with Non-GAAP measure

Profit for the period

Business Highlights


Revenue from the data business grew by 20% over the same quarter last year.

Revenue from Internet...