IT and software services firm Sify Technologies Ltd has posted a net profit of Rs 4 crore for the quarter ended March, 2014, as against a net loss of Rs 1.6 crore for the same period of last year. The company has also crossed Rs 1000 crore turnover during the fiscal year ended March, 2014.
The revenue stood at Rs 263.2 crore for the quarter as compared to Rs 231.7 crore for the same period of last year, an increase of 13.6 per cent.
EBITDA of the company grew by 34.7 per cent to Rs 31.8 crore during the quarter, while it was Rs 23.6 crore for the corresponding period of last year.
For the full year ended March 31,2014, the company has posted a net profit of Rs 37.3 crore, as against Rs 45.2 crore posted during the previous year, a drop of 17.48 per cent. The revenue during the fiscal year increased by 22 per cent to Rs 1046.3 crore compared to Rs 857.1 crore for the corresponding period of previous year.
The capex during the year was Rs 105.1 crore and it has a cash balance at the end of the year at Rs 132.8 crore, excluding the undrawn lines of credit, said the company.
Raju Vegesna, Chairman and Managing Director, said, "It is gratifying to see new clients involving us in the planning stage of their technology refresh cycles; this clearly points to the strengths of our skillsets and the value clients see in our offerings".
M P Vijay Kumar, CFO, said, "We are pleased to report our first full-year of Net Profit since we began our Enterprise transformation 7 years ago. Profit reported last year included an extraordinary one-time gain already reported."
The company is expected to open its state-of-the-art Data Center in Mumbai in the current quarter. It has continued to invest selectively and strategically, both in hard assets and in the next-generation skills required to support our customers with their Cloud Transformation plans.
Sify, an ICT Solutions and Services firm, offers end-to-end solutions with a range of products delivered over a common telecom data network infrastructure reaching more than 1200 cities and towns in India. The telecom network currently connects 36 Data Centres across India including Sify's 5 Tier III Data Centres across the cities of Chennai, Mumbai, Delhi and Bengaluru.
