Sify Technologies posts 13% increase in income at INR 2059 million

Telecom Lead India: Sify Technologies has posted 13 percent increase in income at INR 2059 million for the quarter ended September 30, 2012 against INR 1815 million for the same quarter of previous year.

Net profit for the quarter was INR 612 million against a net loss of INR 89 million.

This quarter includes a one-time profit of approximately INR 658 million, realized on exit from MF Global Sify Securities India. Without this item, the net loss for the quarter would have been INR 45 million.

Sify Technologies’ CAPEX during the quarter was INR 1338 million.

Announcing the financial result, Raju Vegesna, chairman, Sify, said: “We have come through a challenging phase in our growth and I am happy to state that our focused approach is generating measurable results.”

“Vertical Solutions and Cloud based Services model will be the two key propositions for the market. Our future growth will be primarily led by leveraging our Cloud Services model around both Infrastructure and Applications and with increased focus around Integration and Managed Services offerings,” said Kamal Nath, CEO, Sify.

The network services revenue is up 17 percent over same quarter last year and 4 percent over last quarter. Key wins include a large PSU bank and retail chain.

Sify’s network covers 970 cities Pan India with over 1795 base stations.

IT services have grown 16 percent over the same period last year.

The hosting business has won major contracts from Indian software, telecom and banking majors. These are all multi-year contracts ensuring a healthy revenue inflow. The new data centers being commissioned over the next 2 quarters will also help improve growth in this segment.

Software Services registered a growth of 22 percent over the prior quarter, led by Enterprise applications services, which grew over 40 percent with wins across a number of industries.

[email protected]