Sify Technologies Ltd, a Chennai-based ICT service & solution provider, reported a net loss of ₹26 crore for the third quarter ended December 31, 2024 as against a net profit of ₹4 crore for the corresponding quarter last year. Revenue during the quarter was up 21 per cent to ₹1,049 crore.
The revenue split between the businesses for the quarter was Data Center colocation services 36 per cent; digital services 23 per cent and network services 41 per cent..
During the quarter, Sify commissioned 5 MW of additional data centre capacity, says a release.
As of December 31, 2024, Sify provided services via 1,109 fiber nodes across the country, a 14 per cent increase over the same quarter last year. It has deployed 9,473 contracted SDWAN service points across the country.
Capex spent during the quarter was ₹334 crore. The cash balance at the end of the quarter was ₹533 crore, the release said.
Raju Vegesna, Chairman of Sify, said in a release that India’s growing prominence in the global marketplace is driven by its liberal policies, supportive business environment, and wealth of skilled resources. These factors combine to create a compelling growth opportunity for international companies, making India a critical destination in their global strategic expansion plans.
MP Vijay Kumar, ED & Group CFO, said, “We stay focussed on cost efficiency and fiscal discipline, ensuring our financial strategies align with long-term value creation. Our current results are weighed down by depreciation, interest payments and escalating manpower costs.