Sify has announced the Financial Report Card for the Third Quarter of FY 2019-20. Sify has reported a revenue of INR 5891 Million from this quarter.
Mr. Raju Vegesna, Chairman, said, “Most enterprises are viewing the current environment as an opportunity to reskill and reengineer their people and processes and be ready for the Digital economy of tomorrow. This drives both increased consumption of Sify’s infrastructure offerings, as well as increasing utilization of our digital transformation skills and services”.
Mr. Kamal Nath, CEO, said, “Our vision and strategy to align and lead with hybrid and multi-cloud models, supported by our relevant infrastructure investments, has put us strongly in the Digital transformation pursuit of customers. Our cloud-aligned network and security transformation services are other areas which are not only supporting the customers’ cloud adoption journey but have also opened up growth areas for us. We would continue to drive and strengthen this motion going forward”.
Mr. M P Vijay Kumar, CFO, said, “We continue to invest with prudence on our capacity expansion, in particular Data Centers and in people for enhancing our scale of managed services. While revenue and EBITDA have grown, the net profit has been tempered by the depreciation on new capacity and related interest expense. The tax expense is due to the Company being subject to income tax as the benefit of past losses has been utilised in full until last year. Our cash balance at the end of the quarter stands at INR 2204 Million”.
FINANCIAL HIGHLIGHTS
BUSINESS HIGHLIGHTS
GROWTH DRIVERS
The primary growth driver in the market continues to be cloud adoption, led by digital initiatives and transformation. This trend is triggering movement of workloads from on-premise Data Centers to hyperscale Public Cloud and hosted Private Cloud in varied degrees, based on the digital objectives of the Enterprises. This results in transformation of the traditional network architecture, and transformation at the edge which connects the end user. The need for digital services like analytics, data lakes, IoT, etc are shifting the balance to adoption of hyperscale Public Cloud vs Private Cloud. Collectively, these trends are generating opportunities for full scale Cloud, DC and Network service providers with digital services skills.
KEY WINS
Highlights of our major wins in the quarter include:
A consolidated summary of the key highlights during the quarter is noted below:
Data Center Centric IT Services highlights include:
Telecom Centric Services added 49 new customers in the quarter. These include…