Sify Technologies Ltd, an ICT service and solution provider based in Chennai, reported a consolidated net profit of ₹36 crore for the quarter ended September 30, a 39 per cent increase over the same period last year. Income was ₹698 crore, an 18 per cent growth over the corresponding period last year.
Revenue from all three major segments — network centric services, data centre services and digital services — grew during the quarter.
Capex was ₹149 crore, the company said in a press release.
Various investments
As part the Corporate Venture Capital initiative, Sify has cumulatively invested a little more than $3 million across four start-ups in the US.
During the quarter, Sify also invested in procuring renewable energy for its data center in Mumbai to the tune of ₹22 crore. Cumulatively, Sify has delivered 74MW of data centre capacity as on September 30, the release said.
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Raju Vegesna, Chairman, Sify, in the release said, “India has bounced back remarkably well from the pandemic, with businesses reporting near pre-pandemic results. Through the course of multiple lockdowns, the government set the pace by enabling critical IT infrastructure and following that up with aggressive adoption of automation for last mile delivery of welfare services. Similar initiatives have rapidly been adopted by small and medium enterprises, driving demand for services like data centres and networks. That, combined with geo-political changes, has made India increasingly attractive to MNC enterprises as the next destination for IT infrastructure. We expect these tailwinds to create new opportunities for Sify.”
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