Sify reports revenues of Rs 8,791 million in Q2

CHENNAI: Sify reported its consolidated financial results for Q2 FY 2023-24 on Friday.

The company recorded a revenue of Rs 8,791 mn, an increase of 11% over the same quarter last year.

EBITDA was Rs 1,519 mn, an increase of 1% over the same quarter last year.

Profit before tax was Rs 52 mn, a decrease of 76% versus the same quarter in the previous year. Profit after tax stood at Rs 15 mn, a decrease of 87% from the corresponding period last year. Capex during the quarter stood at Rs 1,797 mn.

Raju Vegesna, Chairman, said, “India’s Data Policy is entering the final phase of being adopted into law. This will give shape and clarity to data ecosystem and formalise regulation around data security, which will help accelerate investment in India’s data centre landscape. This will also lead to India being viewed as a more viable interconnect point between Asia and the Middle East by international connectivity players. Enterprises exploring digital transformation and government entities looking to automate social welfare systems will be an important target audience for Sify’s digital transformation tools and services”.

Kamal Nath, CEO, went on to add, “As enterprises pursue their digital transformation and digitalisation objectives, they are also re-calibrating their digital infrastructure across hybrid cloud, network, security and edge infrastructures. Customer experience, business continuity, cyber security, application modernization and overall adoption of AI models are the prime drivers for this recalibration. Our infrastructure investments and services portfolio are fundamentally aligned to meet the customer goals. We are engaged with our customers to identify their specific needs and selectively recalibrate our propositions to support the same”.