Sify Revenues Rs.6301 Million for Third Quarter of FY 2020-21

Sify’s revenue for the third quarter of FY 2020-21 stood at Rs.6301 million, a seven percent growth over the same quarter last year. EBITDA for the quarter was Rs.1291 million, which is an increase of seventeen percent over the same quarter last year.

The company also registered a profit before tax for the quarter at Rs.400 million, which again was 61 percent higher over the same quarter last year. Sify’s CAPEX during the quarter was Rs.1140 million, while its cash balance at the end of the quarter stood at Rs.4431 million.

Raju Vegesna, Chairman, said, “The pandemic has been an inflection point in the way we do business. As the world rallied to find a cure, businesses and people demonstrated resilience and adaptability.

Clients are rediscovering the disruptive nature of AI, Distance learning, Telemedicine, Robotic process and Automation – long-term trends that are increasingly becoming accepted as mainstream technology. These trends continue to stimulate demand for networks and data center capacity, a business segment that Sify stays firmly committed to”.

Mr. Kamal Nath, CEO, said, “In continuation of signs seen in earlier quarters, we are seeing an aggression in customer’s decision making and spend in areas of digitalization, business continuity plan, security and remote working models. They are also allocating budgets for FY 21-22 along these lines. Overall, we are excited by these trends as our products, services and business models are in complete alignment with the customer’s priorities”.

Mr. M P Vijay Kumar, CFO, said, “Our Data Center and Network expansion plans remain on track. We will also continue to invest in People and Tools, while maintaining a tight fiscal discipline. Our discretionary spending will remain contained in the short run, without impacting the overall customer experience.

The pandemic played a crucial role in accelerating the primary growth drivers in the market for cloud adoption, led by digital initiatives and transformation. Sify was rightly positioned to enable enterprises shift to work from home or remote working. What went in favour of the company was the customers choosing Sify for migration of their on-premise data center to multi-cloud platforms like Cloudinfinit, AWS, Azure and Oracle. Customers also entrusted Sify with management and security.