Sify reports Consolidated Financial Results for Q2 FY 2022-23
21 Outubro 2022 - 8:50AM
HIGHLIGHTS
- Revenue was INR 7938
Million, an increase of 14% over the same quarter last
year.
- EBITDA was INR 1509 Million,
an increase of 2% over the same quarter last year.
- Profit before tax was INR
220 Million, a decrease of 52% over the same
quarter last year.
- Profit after tax was INR 112
Million, a decrease of 69% over the same quarter last
year.
- CAPEX during the quarter was
INR 2234 Million.
(IN INR MILLION) |
30.09.2022 |
31.03.2022 |
EQUITY |
14,850 |
14,476 |
|
|
|
BORROWINGS |
|
|
Long term |
9067 |
7769 |
Short term |
7622 |
7483 |
|
|
|
MANAGEMENT COMMENTARY
Mr. Raju Vegesna, Chairman,
said, “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, 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, CFO, said,
“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 split between the
businesses for the quarter was Data Center colocation services 32%,
Digital services 25% and Network services 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 services |
2547 |
1851 |
7494 |
37.60 |
Digital Services |
2004 |
2174 |
7520 |
(7.82) |
Network services |
3387 |
2961 |
12012 |
14.39 |
TOTAL |
7938 |
6986 |
27026 |
|
- During the quarter, Sify has
invested USD 772,000 in start-ups in the Silicon Valley area as
part of our Corporate Venture Capital initiative. To date, the
cumulative investments stand at USD 4.21 Millions.
- Sify commissioned incremental
capacity of 5MW at the Hyderabad data center in the quarter.
- As on September 30, 2022, Sify
provides services via 834 fiber nodes and 1880 wireless base
stations across the country, a 10% and 2% increase respectively
over the same quarter last year.
- The network connectivity services
has now deployed 5600 SDWAN service points across the country.
CUSTOMER ENGAGEMENTS
Among the most prominent new contracts during the quarter were
the following:
Data Center Services
- International players who signed up
for Data Center space include a social media network, a credit
rating agency and a cloud security company.
- Migration from the competition to
Sify DC included a nationalized bank and the government’s rural
development authority.
- The country’s premier hotel chain, a
mobile engagement platform, a supply chain major and a regional
broadband service provider contracted to migrate from their
on-premise DC to Sify DC.
Digital services
- Industry majors from Insurance, IT,
Healthcare, retail and NBFC contracted to migrate from on-premise
DC to our Cloud platform.
- A cloud-based payroll processing
player and a NBFC contracted for Greenfield cloud projects.
- An Indian conglomerate signed up to
build a Campus network and managed services.
- A large Public Sector bank, a state
government body, a private insurance major and a domestic
agrochemical manufacturer renewed their managed services
contract.
- A national insurance information
body, a private insurance player and an NBFC signed up for DC and
Infra managed services.
- Two state governments, a couple of
insurance majors, a pan-India retail player, a software start-up
and the cyber wing of a state government contracted for services
such as DRaaS, PaaS and IaaS.
- A large private bank contracted to
expand their Data Center.
- A State cooperative bank contracted
for security infrastructure and managed services.
Network Services
- An international Cloud security
company, a global technology company and two Private banks
contracted to have their networks built.
- A large Public insurance company, an
edutech unicorn and the housing division of a Public sector
insurance player contracted for managed and secure SDWAN
service.
- One of the largest Private banks
contracted for Cloud connectivity network.
- A subsidiary of the Central bank
responsible for payment infrastructure contracted to expand their
WiFi footprint across their location.
- A global consulting major and a
cooperative bank contracted for collaboration services.
- The business rolled out trials of
its fully automated self-service portal, allowing customers to
provision network-on-demand for more than 200 locations.
- Sify received the gateway license
for Kolkata, making it the third international gateway.
FINANCIAL
HIGHLIGHTS |
|
|
|
|
|
|
|
Unaudited Consolidated Income Statement as per
IFRS |
|
|
(In INR millions) |
|
|
|
|
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 (including exchange gain) |
29 |
|
33 |
|
78 |
|
Other Expenses (including exchange loss) |
- |
|
(7 |
) |
- |
|
|
|
|
|
Profit before tax |
220 |
|
461 |
|
395 |
|
Current Tax |
(167 |
) |
(205 |
) |
(163 |
) |
Deferred Tax |
59 |
|
100 |
|
39 |
|
Profit for the period |
112 |
|
356 |
|
271 |
|
|
|
|
|
Profit attributable to: |
|
|
|
Reconciliation with Non-GAAP measure |
|
|
|
Profit for the period |
112 |
|
356 |
|
271 |
|
Add: |
|
|
|
Depreciation and Amortisation expense |
956 |
|
790 |
|
927 |
|
Net Finance Expenses |
362 |
|
252 |
|
281 |
|
Other Expenses (including exchange loss) |
- |
|
7 |
|
- |
|
Current Tax |
167 |
|
205 |
|
163 |
|
Less: |
|
|
|
Deferred Tax |
(59 |
) |
(100 |
) |
(39 |
) |
Other Income (including exchange gain) |
(29 |
) |
(33 |
) |
(78 |
) |
EBITDA |
1,509 |
|
1,477 |
|
1,525 |
|
|
|
|
|
|
|
|
|
About Sify Technologies
A 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 Spaces 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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