In its Q32020-21 financial results, the company reports 7 percent growth resulting in a revenue of Rs 630 Crore
At a time when the global economy has creaked under the heavy inflictions by the pandemic, India’s Sify Technologies – one of the leading data centre & cloud service providers – has registered encouraging quarterly revenue figures that uplift the otherwise modest economic mood of the country. Yes, in its just declared Q32020-21 financial results, the company has garnered 7 percent revenue growth to Rs 630 Crore.
The EBITDA for the quarter was Rs 129.1 Crore, an increase of 17 percent over the same quarter last year. The profit before tax for the quarter was Rs 40 Crore, an increase of 61 percent over the same quarter last year. While, the profit after tax for the quarter stood at Rs 25.2 Crore registering an increase of 54 percent over the same quarter last year. The CAPEX during the quarter was Rs 114 Crore.
“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 automation – long-term trends that are increasingly becoming accepted as mainstream technology. These trends continue to stimulate demand for networks and data centre capacity, a business segment that Sify stays firmly committed to”, said Raju Vegesna, Chairman, Sify Technologies.
Kamal Nath, CEO, Sify Technologies, 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’re also allocating budgets for FY 2021-22 along these lines. Overall, we’re excited by these trends as our products, services and business models are in complete alignment with customers’ priorities”.
MP Vijay Kumar, CFO, viewed, “Our data centre 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”.
Qaisar
