Sify Technologies

Integrated ICT solutions and services provider Sify Technologies has reported Rs 38 million as profit for the January-March 2024 quarter, the company said on Tuesday. The city-based company had registered a profit of Rs 34 million during the corresponding quarter of last year. For the year ending March 31, 2024, the profit fell to Rs 49 million from Rs 674 million a year ago. Total revenue during the quarter under review grew to Rs 9,637 million from Rs 8,861 million in the same period last year. For the year ending March 31, 2024, total revenues grew to Rs 35,634 million, as against Rs 33,404 million in the previous financial year. "Our robust infrastructure investments and comprehensive services portfolio are structured to precisely address customer objectives. Concurrently, we maintain proactive engagement with clients, identifying their distinct requirements and customising our offerings to align with their evolving needs," company CEO Kamal Nath said in a statement today. "As

Data localisation and cost efficiency are among the key factors driving the demand for data centres in India

Sify Infinit Spaces Ltd, a subsidiary of Sify Technologies, an integrated ICT solutions and services provider has entered into an agreement with KDCF for the expansion of new data centres, a company official said on Monday. Following the agreement, KDCF would invest approximately USD 73 million in the form of compulsory convertible debentures of Sify Infinit Spaces Ltd. "Sify and Sify Infinit Spaces Ltd, a wholly owned subsidiary of Sify which operates its data centres have entered into an agreement with KDCF on July 20,2023, under which KDCF will invest upto Rs 6000 million (approximately USD 73 million) in the form of compulsory convertible debentures of SIS," Sify Technologies Group CFO and ED, M P Vijay Kumar said. Sify Inifinit Spaces Ltd would use the proceeds from the issue of the debentures for the expansion of new data centres, including land acquisition, investment in procuring alternate source of power and repayment of debt, he said in a company statement. Sify Technolog

Information technology services company Sify Technologies has reported consolidated profit for the January-March 2023 quarter at Rs 34 million, the company said on Wednesday. The company had registered consolidated net at Rs 227 million during the corresponding quarter of previous year. For the year ending March 31, 2023 the consolidated profit stood at Rs 674 million as compared to Rs 1,258 million registered last year. The consolidated revenues during the quarter under review went up to Rs 8,861 million from Rs 6,805 million registered in same quarter of last year, the company said. For the year ending March 31, 2023 the consolidated revenue grew to Rs 33,404 million from Rs 27,026 million registered year ago. The digital tsunami that swept India during COVID-19 has settled into a steady adoption by both public and private enterprises. Enterprises are eager to unlock the power of digital automation measures to transition to the next phase of growth, company chairman Raju Vegesna

IT services company Sify Technologies is bullish on the cloud services business and aims to clock revenue of Rs 3,500 crore in the current fiscal, a senior official of the company said on Saturday. Sify Technologies CEO Kamal Nath said that the company is expanding its data centre footprint and partnered with Hewlett Packard Enterprise for implementing its Greenlake technology to provide cost efficiency as well as predictability in the cost of cloud computing requirements of business organisations. Nath said that the company is seeing huge opportunities in the adoption of the hybrid cloud business. "Hybrid cloud promotes our data centre business, network business. It promotes all our business. We are already at a run rate of Rs 3,000 crore. We are eyeing Rs 3,500 crore (this fiscal)," Nath said on the sidelines of the CIO and Leader Conference here. The company had revenue of Rs 2,702.6 crore in 2021-22. In the first quarter ended June 30, 2022, the company's revenue grew 19.5 per

Sify Technologies already has 11 data centres spread across six cities in India -- including Mumbai, Noida, Chennai, Hyderabad, Bengaluru and Kolkata.

IT company Sify Technologies posted over a six-fold jump in profit at Rs 90.4 crore for the March ended quarter due to rapid digital transformation of business amid COVID-19 pandemic.

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Sify's American depositary receipts rose 6.7 per cent in pre-market trading on Friday in the US. The company had a market value of about $484 million as of Thursday

Nath says the company's growth plan for this year is more ambitious

Revenue by 12% to Rs 404 crore; full-year profit up 16% to Rs 44 cr