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Sify Technologies reports results for 2017-18; crosses Rs 20 billion revenue mark

April 25, 2018
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Sify Technologies has announced its annual financial result for 2017-18. The company has crossed Rs 20 billion revenue mark, doubling its revenue in just 5 years (it crossed the Rs 10 billion mark in 2013), with over 20 quarters of continuous profitability.

As per the press release, Sify has reported revenues of Rs 20,686 million for financial year 2017-18, an increase of 12 per cent over last year. EBITDA for the year stood at Rs 2,856 million, an increase of 11 per cent over last year. Net Profit for the year was Rs 924 million, an increase of 44 per cent over last year.

Capex for the year under consideration was Rs 1,888 million. Cash balance at the end of the year was Rs 2,275 million. The Board has recommended a dividend of 12 per cent subject to approval from shareholders.

Business Highlights:

Telecom-centric services

•             Revenue for the data and managed services business for the year FY17-18 grew by 9 per cent over the previous year, while reduction in revenue from India voice termination,due to reduction in IUC charges, resulted in the overall Telecom revenue falling by 2 per cent over last year.

•             Sify added a total of 803 new telecom-centric services customers during the year.

•             The last quarter of the year saw a major network transformation win in the FSI category.

•             Sify won a contract for network services in Nepal, which is the first in this geography and opens up the potential to cater to the SAARC countries sharing a border with India.

•             Sify’s hyperscale network strategy continues to see success with a terabit scale solution for a large global content player and repeat orders from existing cloud and CDN providers.

•             Sify secured contracts for Managed WiFi and Security services across FSI, Manufacturing and ITeS verticals.

•             Sify successfully incubated a service model for ‘Internet of Things’ and has seen early wins in this category.

•             Sify signed up several PSU banks across all regions. The other significant contracts were in the eCommerce category and multiple digital native customers.

•             Sify also concluded network and security managed services contracts with customers from the logistics and manufacturing verticals.

•             Sify’s wireless data network was further augmented with the addition of over 200 base stations across the country.

•             Sify deployed a Nx100G backbone network in Mumbai to support high bandwidth addition across infrastructure and customer domains.

•             Earlier in the year, Sify established a neutral IX in partnership with AMS-IX to support the growth of the Internet eco-system in India. This quarter, Sify expanded its IX coverage to three locations in Mumbai.

•             The business established a category of services to address the digital “Cloud First, Mobile First” enterprise.

•             The business all completed successful trials of SD-WAN led technologies and is poised to cater to the “Cloud Centric” WANs of tomorrow.

Data Center-centric IT services

•             Revenue from Data Center-centric IT services grew 30 per cent over last year.

•             Sify added 177 new clients across all Data Center centric IT services.

•             A large private general insurance company signed a multi-year DC and DR outsourcing contract comprising of hosting, IT Infrastructure, Managed IT and security services.

•             A private brokerage house has contracted Sify to build a Private Cloud in brokerage as a service model.

•             Multiple Public Sector banks have signed multiyear contracts for network expansion, security services and data centre services.

•             An umbrella organisation for operating retail payments and settlement systems in India has contracted with Sify to expand and Build Network and Security Infrastructure.

•             A multi-national logistics company has contracted with Sify to manage its complete network and security operations.

•             A central government organization catering to IT needs of Govt of India has contracted with Sify for a complete technology refresh for their Data Centre IT Infra.

•             Another public-sector insurance company has contracted Sify for Outsourcing of the DC and DR.

•             Sify’s iTest platform successfully delivered 20 million assessments in FY 2017-18.

Raju Vegesna, Chairman, said, “I am pleased to note that Sify has emerged as a competitive service provider for both Indian enterprises and incoming global MNCs. This points to the maturity of our service portfolio, its flexibility and the strong fit to the unique challenges of the Indian market. In India, the volume and traction of Digital Transformation projects, both by the Public and Private Enterprises, continues to fuel new opportunities for Sify.”


Kamal Nath, CEO, added, "We have continued our growth in revenue, profitability and new order book based on our growth in Data Center Centric IT Services and ICT Transformation services. We have been able to establish ourselves as a credible partner for our clients in “consumption” as well as “build” model of IT & Communications services. We would continue to expand our portfolio around “Cloud@core” theme across all our business lines. We believe our next level of growth will be centred around the growth of our “Cloud@core” service lines.”

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