Information and communications technology (ICT) services provider Sify Technologies has witnessed a 36 per cent year-on-year rise in net profits for the Oct-Dec 2021 quarter.
However, on a sequential basis, net profits remained flat at Rs 34 crore.
With cloud services at its core, the company reported quarterly revenue of Rs 678 crore during Oct-Dec, a growth of around 8 per cent over the same quarter last year, but a marginal 3 per cent fall from the previous quarter, according to a filing with the stock exchanges.
Driven by the digitisation and data centre boom, revenue from the company’s biggest segment – Data Centre colocation services grew by 44 per cent over the same quarter last year, while revenue from digital services fell by 18 per cent over the same quarter last year. The revenue from network-centric services grew by 8 per cent over the same quarter last year.
“Digital IT infrastructure across the country has been scaled up aggressively since networks and data centres were declared ‘essential’ services. This has led to both in a surge of services from cloud-based local startups and growing hyperscale investment in Indian IT infrastructure. We see this as a right time for Sify to scale up,” said Raju Vegesna, Chairman, Sify.
The report further added that among its various growth initiatives, and as part of its Corporate Venture Capital initiative, Sify said it has further invested around $100,000 during the quarter in Silicon Valley-based startups.
CAPEX during the quarter was Rs 289 crore. Sify said it has committed to a capital outlay of Rs 990 crore toward fresh capacity building for data centre (DC) expansion in the Navi Mumbai region, in addition to the outlay of Rs 120 crore for expansion of DC capacity in the same region.
