Sify Technologies has revealed its consolidated financial results and revenue details for the year 2021-22.
Raju Vegesna, the Chairman, said, “A string of legislation like the Data Accessibility and Use policy, the Personal Data protection bill, the Cybersecurity policy and the new Digital Law demonstrate the government’s intention to reassure MNC and Indian Enterprises that we’re cautious about India’s IT framework, ecosystem and regulations.
Over the past few years, the country has seen significant investment by Hyperscale operators who are convinced about the maturity of the IT fabric. That, and the government’s digital agenda, have turned India into a proving ground for the local startup ecosystem, considered the third-largest in the world. The timing and opportunity could not be better for Sify”.
Kamal Nath, CEO, said, “Enterprises across verticals are actively pursuing digital initiatives ranging from digitalization of existing processes, digital intelligence of customer preferences, enhancement of digital experience for their consumers and launch of new digital businesses. Towards that end, all enterprises are investing in upgrading and augmenting their current infrastructure and making it digital-ready.
Our Cloud-ready Data Centre and Network infrastructures, related digital infrastructure services and core digital services provide a great choice to our customers in enabling their initiatives and meeting their digital ambitions. Our growth story will continue to be built on these 3 strategic pillars – be it asset-led or asset-independent engagement models with our customers”.
M P Vijay Kumar, CFO, said, “2021-22 marked Sify’s commitment to sustainable investing, starting with the Data Center business. The adoption of renewable energy is proceeding along the stated timeline. Following the trifurcation of the businesses into separate legal entities, they are now free to pursue partnerships for technology and capital to build operating effectiveness while leveraging the benefits of a unified sales and marketing team to execute the go-to-market strategy. Over the long term, it will help us build more operating effectiveness while retaining our identity as the only true converged ICT services player.
We continue to make selective investments, in particular in people and tools to meet the customer’s digital transformation demands. Our commitment to expanding our Data Center footprint and Network remains while staying disciplined on fiscal health. Cash balance at end of the year was INR 4591 Million”
|(IN INR MILLION)||FY 2021-22||FY 2020-21|
- Revenue was INR 27,026 Million, an increase of 11% over last year.
- EBITDA was INR 6,034 Million, an increase of 19% over last year.
- Profit before tax was INR 1,846 Million, an increase of 15% over last year.
- Profit after tax was INR 1,353 Million, a decrease of 12% over last year. During the previous year, the company had recognized deferred tax assets of INR 600 million based on an assessment of reasonable certainty of future taxable income in the individual entities of the group.
- CAPEX during the year was INR 7,144 Million.