HIGHLIGHTS
- Revenue was INR 10275 Million, an increase of 17% over the same quarter last year.
- EBITDA was INR 1963 Million, an increase of 29% over the same quarter last year.
- Profit before tax was INR 87 Million. Profit after tax was INR 49 Million.
- CAPEX during the quarter was INR 2594 Million.
MANAGEMENT COMMENTARY
Mr. Raju Vegesna, Chairman, said, “The enterprise landscape in India is undergoing a transformative evolution, driven by a confluence of regulatory advancements, innovative business models, and robust infrastructure development. As we navigate this dynamic environment, it is clear that India is emerging as a global hub for Information and Communication Technology.
Regulatory frameworks are becoming increasingly conducive to business growth, allowing for an ecosystem that encourages innovation and investment. Initiatives such as Digital India and the Make in India campaign have streamlined processes and incentivized entrepreneurship.
This shift is not just about adopting new tools; it’s about reimagining how we conduct business and deliver value to our stakeholders”.
Mr. Kamal Nath, CEO, said, “As enterprises embark on their digital transformation journeys, they are reshaping their IT frameworks to integrate a diverse array of innovative solutions. The overarching goal remains the same: to enhance user satisfaction, ensure operational resilience, and safeguard digital assets.
To support these ambitions, we are making significant capital investments and expanding our range of offerings. Our strategic focus on delivering innovative outcomes through our comprehensive suite of infrastructure and managed services uniquely positions us to partner with businesses during this pivotal transformation”.
Mr. M P Vijay Kumar, ED & Group CFO, said, “We draw your attention to Sify adopting the new standard of International Accounting Standards Board’s recent issuance of IFRS 18 (Presentation and Disclosure in Financial Statements) starting with the last quarter ending June 30, 2024. By adopting the new framework, we seek to maintain clarity and consistency in our financial communications. Importantly, while our presentation may change, there is no alteration in total income or net profit.
We also remain committed to cost-effectiveness and fiscal prudence. Our ongoing investments reflect a forward-thinking perspective that anticipates market trends. These efforts will positively impact our net profit in the near future. However, it is essential to acknowledge that these investments also lead to increased depreciation and interest costs, which we account for transparently in our financial statements.
We are also actively scaling our sustainable practices across all our businesses, with particular emphasis on our Data Centers. This commitment to sustainability is not just a compliance measure; it is integral to our long-term strategy and resonates with the broader digital transformation initiatives being pursued by industries across India.