Sify Announces Q1 FY 2024-25 Financial Results: Revenues INR 9,421 Million, EBITDA INR 1,784 Million, Loss INR 105 Million

Sify has released its Consolidated Financial Results for Q1 FY 2024-25, indicating revenues of INR 9,421 million and an EBITDA of INR 1,784 million. The period saw a loss of INR 105 million.

Key Highlights:
– Revenue increased by 10% year-over-year to INR 9,421 million.
– EBITDA grew by 3% year-over-year to INR 1,784 million.
– Loss before tax stood at INR 46 million, with a loss after tax of INR 105 million.
– Capital expenditures (CAPEX) during the quarter totaled INR 2,656 million.

Management Commentary:
Mr. Raju Vegesna, Chairman, emphasized India’s growth phase driven by favorable regulations and investment climate, positioning the country as a hub for global businesses. He highlighted Sify’s readiness to capitalize on these opportunities with robust infrastructure and digital solutions.

CEO Mr. Kamal Nath underscored Sify’s commitment to supporting digital transformation initiatives of businesses through comprehensive IT solutions, aiming to enhance user satisfaction and operational resilience.

ED & Group CFO Mr. M P Vijay Kumar discussed the adoption of new accounting standards and reiterated Sify’s focus on expanding network infrastructure and digital services.

Business Highlights:
– Revenue breakdown: Data Center colocation services 36%, Digital services 23%, Network services 41%.
– Expansion: Commissioned 6.5 MW capacity in Mumbai, increased fiber nodes by 16% to 1055, and deployed 9415 SDWAN service points.

Customer Engagements:
New contracts included major agreements in Network Services, Data Center Services, and Digital services across various sectors, reinforcing Sify’s market presence and service portfolio.

Financial Highlights:
– Equity as of June 30, 2024: INR 17,369 million.
– Borrowings: Long-term INR 16,717 million, Short-term INR 7,218 million.

Sify’s strategic initiatives and financial performance reflect its focus on expanding capabilities and enhancing service offerings amidst evolving market demands.