Welcome to our dedicated page for Sify Technologies news (Ticker: SIFY), a resource for investors and traders seeking the latest updates and insights on Sify Technologies stock.
Sify Technologies Limited (symbol: SIFY) is a premier provider of integrated Information and Communication Technology (ICT) solutions in India. Established as the largest service provider, systems integrator, and all-in-one network solutions company on the Indian subcontinent, Sify has expanded its footprint to the United States, with headquarters in California’s Silicon Valley. Serving over 8500 businesses, Sify is at the forefront of addressing the evolving technology needs of large, mid-sized, and small enterprises moving towards digitization.
Sify operates India’s largest MPLS network and manages 15 state-of-the-art data centers. The company collaborates with top-tier global network operators, delivering comprehensive global network solutions. Its extensive service portfolio includes telecom, data center, cloud, colocation, network and data security, consulting, and end-to-end application solutions. Sify’s partnerships with leading software and network companies worldwide enable it to offer robust and integrated solutions that meet diverse business needs.
The company’s operations are segmented into three main areas: Network Connectivity Services, Data Center Services, and Digital Services. Network Connectivity Services cover domestic and international data services, along with wholesale voice services. Data Center Services encompass colocation services, cross connects, and supporting managed services. Digital Services include cloud and managed services, network managed services, applications integration services, and technology integration services. Notably, Network Connectivity services account for the bulk of the company’s revenue.
Recent achievements include a series of strategic initiatives and developments. Sify recently announced a Rights Offering, expected to substantially contribute to the expansion of its network-centric services, data center services, and digital services. Participation in this offering provides shareholders with an oversubscription option, allowing them to purchase additional shares or ADSs, subject to availability.
The company hosts regular conference calls to discuss financial results and strategic developments. For instance, key executives such as Mr. Raju Vegesna (Chairman of the Board), Mr. M P Vijay Kumar (Executive Director & Group CFO), and Mr. Kamal Nath (CEO) frequently engage with stakeholders through these calls. The latest earnings report highlighted revenues of INR 35,634 million, an EBITDA of INR 6,756 million, and a significant profit progression.
In addition to its robust financial performance, Sify has been actively engaging in new contracts and customer engagements across its core services segments, substantially boosting its growth trajectory. The company’s infrastructure and deep expertise in business transformation solutions, modeled on the cloud, fortify its leading position in the ICT sector in India and beyond.
Sify Technologies reported Q3 FY 2024-25 financial results with revenues of INR 10,491 Million, marking a 21% increase year-over-year. The company's EBITDA reached INR 1,914 Million, up 13% compared to the same quarter last year. However, Sify recorded a loss before tax of INR 119 Million and a loss after tax of INR 258 Million.
Capital expenditure during the quarter amounted to INR 3,343 Million. Management highlighted India's growing prominence in the global marketplace, citing liberal policies, supportive business environment, and skilled resources as key drivers. The company acknowledged that current results were impacted by depreciation, interest payments, and rising manpower costs.
Sify Technologies (NASDAQ: SIFY) has scheduled the release of its unaudited IFRS financial results for the Third Quarter ended December 31, 2024, on Friday, January 17, 2025, before market opening. The company will host a conference call at 8:30 AM ET featuring Chairman Raju Vegesna and Executive Director & Group CFO M P Vijay Kumar.
Participants can join via phone (+1-888-506-0062 for U.S./Canada toll-free, +1-973-528-0011 for International) or through live webcast at sifytechnologies.com/investors. A replay will be available until January 24, 2025, accessible by phone (+1-877-481-4010 U.S./Canada toll-free, +1-919-882-2331 International) using passcode 51869.
Sify Technologies (NASDAQ: SIFY) announced the inauguration of a new Data Center built for the Supreme Court of India on November 07, 2024. The facility was inaugurated by the 50th Chief Justice of India, Shri Dhananjaya Yeshwant Chandrachud, along with other Supreme Court justices.
The Smart-Rack-Row, Concurrently Maintainable Data Center represents the Supreme Court's latest initiative to modernize its operations and reduce dependency on legacy systems. This project aligns with the judiciary's broader digitalization efforts, marking a significant milestone in the Supreme Court's technological advancement.
Sify Technologies (NASDAQ: SIFY) has announced a partnership with Cisco ThousandEyes, a software tool for managing digital experiences across internet and cloud. The collaboration combines Sify's expertise in managed services and data centre solutions with Cisco's advanced networking capabilities.
The integration provides enhanced visibility through detailed insights into application performance and user experience by monitoring network paths, internet routing, and SaaS application performance. Sify's Managed Network Services (MNS) offers infrastructure, networking, and automation skills to help enterprises develop future-ready network strategies and manage complex networks.
Sify Technologies (NASDAQ: SIFY) has launched GPU Cloud CloudInfinit+AI Platform, offering GPU-as-a-Service (GPUaaS). The platform provides cloud-based access to Graphics Processing Units on a pay-as-you-go basis, supporting compute-intensive tasks like machine learning, deep learning, and data analytics. Key features include scalability, accessibility for startups and small businesses, and cost-effectiveness through a subscription model. Sify recently became India's first NVIDIA DGX-Ready Data Center certified provider for liquid and air cooling, positioning itself to support hybrid cloud deployments with low-latency interconnect to hyperscale clouds.
Sify Technologies reported its Q2 FY 2024-25 consolidated financial results, showing strong growth. Revenue increased by 17% to INR 10275 Million, while EBITDA grew by 29% to INR 1963 Million compared to the same quarter last year. The company's profit after tax was INR 49 Million.
Key highlights include:
- CAPEX of INR 2594 Million during the quarter
- Commissioning of 6.5 MW Data Center capacity in Mumbai
- Revenue split: Data Center colocation services 32%, Digital services 32%, Network services 36%
- 1069 fiber nodes across India, a 12% increase year-over-year
- 10057 SDWAN service points deployed nationwide
Management emphasized India's emergence as a global ICT hub and Sify's strategic investments in infrastructure and services to support enterprise digital transformation.
Sify Technologies (Nasdaq: SIFY) has regained compliance with Nasdaq's minimum bid price requirement for continued listing. The company received a notification letter from Nasdaq on October 18, 2024, confirming that the matter is now closed. This follows a previous notification in July 2024 that Sify was not in compliance as its American Depositary Shares (ADSs) had closed below $1.00 for 30 consecutive business days.
To address this, Sify implemented a 1-for-6 ratio change of its ADSs effective October 4, 2024. Subsequently, the company's ADSs maintained a closing bid price at or above $1.00 for 10 consecutive business days from October 4 to October 17, 2024, thus meeting Nasdaq's Listing Rule 5550(a)(2) requirements.
Sify Technologies (NASDAQ: SIFY), India's leading Digital ICT solutions provider, has announced it will report its unaudited IFRS financial results for the Second quarter ended September 30, 2024 on Tuesday, October 22, 2024 before the market opens. The company will host a conference call at 8:30 AM ET with key executives including Chairman Raju Vegesna, Executive Director & Group CFO M P Vijay Kumar, and CEO Kamal Nath.
Interested parties can participate by dialing +1-888-506-0062 (Toll Free in the U.S. or Canada) or +1-973-528-0011 (International). The call will be simultaneously broadcast live over the Internet at www.sifytechnologies.com/investors. A replay will be available until October 29, 2024, by dialing +1-877-481-4010 (Toll Free in the U.S. or Canada) or +1-919-882-2331 (International) with passcode 51465.
Sify Technologies (NASDAQ: SIFY) has announced the appointment of Ms. Padmaja Chunduru as Director on its Board. Ms. Chunduru, a career banker with extensive experience, has held key positions at State Bank of India and served as MD & CEO of Indian Bank, where she successfully managed a merger with Allahabad Bank. She also led the National Securities Depository (NSDL) as MD & CEO, developing a pioneering DLT Blockchain platform for corporate debt monitoring.
Ms. Chunduru has been recognized as one of the Most Powerful Women in Business by Fortune India and Business Today for 2022 and 2023. She brings valuable experience in integrity, corporate governance, and digital financial initiatives to Sify. The company's Chairman, Mr. Raju Vegesna, welcomed her appointment, highlighting the benefits her expertise will bring to Sify's evolution as a Digital Transformation partner.
Sify Infinit Spaces , a wholly owned subsidiary of Nasdaq-listed Sify Technologies , has announced the successful listing of its first market offering of Listed, Secured, Redeemable, Non-Convertible Debentures (NCDs). The issue, totaling INR 250 crore, was fully subscribed. The 15-year bonds were subscribed at a coupon rate of 8.95% and rated AA- by CARE.
The NCDs were listed on the Bombay Stock Exchange on October 04, 2024. They are secured by Moveable Fixed Assets and Receivables of specific Data Centers. The proceeds will be used to repay outstanding Bank Term loans. Major subscribers include India Infradebt (INR 75 Crore), Kotak Infrastructure Debt Fund (INR 140 Crore), and NIIF Infrastructure Finance (INR 35 Crore). Trust Group acted as the sole arranger for the issue.
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