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.
The India data center construction market is set to grow at a CAGR of 15% from 2022 to 2028, reaching a market size of USD 3.46 billion by 2028 from USD 1.52 billion in 2022. Key drivers include increased cloud adoption, 5G deployment, and innovations in technologies like IoT and AI, fostering demand for data centers. By 2024, 80% of corporate banks in India are expected to utilize cloud technology. Major investments are expected from local and global companies, enhancing infrastructure across regions like Maharashtra and Tamil Nadu.
Sify Technologies reported revenues of INR 8,896 Million for Q3 FY 2022-23, a 31% increase year-over-year. EBITDA reached INR 1,619 Million, up 3% from the previous year. However, profit before tax decreased 52% to INR 227 Million, and profit after tax fell 25% to INR 258 Million.
Capital expenditure during the quarter was INR 4,226 Million. Sify's Data Center and Digital services contributed significantly to revenue, with 35% from Digital services and 27% from Data Center services. Key customer contracts were secured, including significant engagements with banks and enterprises.
Sify Technologies Limited (NASDAQ: SIFY), a leading Digital ICT solutions provider in India, will announce its unaudited IFRS financial results for Q3 ended December 31, 2022, on January 25, 2023, before market opening. A conference call will be held on the same day at 8:30 AM ET, featuring key executives including the Chairman, Executive Director, and CEO. The call will be accessible via phone and live streaming on their investor website. Sify is recognized for its extensive ICT services, including data centers and cloud solutions, catering to over 10,000 businesses across India and internationally in North America, the UK, and Singapore.
Sify reported revenues of INR 7938 Million for Q2 FY 2022-23, marking a 14% increase year-over-year. EBITDA grew by 2% to INR 1509 Million. However, profit before tax fell by 52% to INR 220 Million, and profit after tax dropped by 69% to INR 112 Million. The company invested INR 2234 Million in CAPEX. Notably, Sify signed multiple significant contracts in Data Center and Digital services, while also expanding its network infrastructure.
Sify Technologies Limited (NASDAQ: SIFY), a leading Digital ICT solutions provider from India, announced it will report its unaudited IFRS financial results for the second quarter ended September 30, 2022, on October 21, 2022, before market opens. A conference call will be held at 8:30 AM ET featuring key executives. The company emphasizes its comprehensive ICT service portfolio, including state-of-the-art data centers and a broad network infrastructure across India and internationally.
Sify Technologies Limited (NASDAQ: SIFY) has announced a strategic partnership with Aquila Clouds to enhance its Cloudinfinit platform with FinOps capabilities. The addition of Cloudinfinit FinOps, powered by Aquila Clouds, aims to optimize cloud asset management and cost analysis. This partnership promises to expedite time-to-market and create significant value for customers, according to Sify's Head of Cloud Engineering. Aquila Clouds also supports Sify's billing operations through its BillOps platform, enhancing operational efficiency and customization.
Sify reported revenues of INR 7709 Million for Q1 FY 2022-23, marking a 20% increase year-over-year. EBITDA stood at INR 1525 Million, a 5% rise from the previous year. However, profit before tax dipped by 10% to INR 395 Million, and profit after tax fell 18% to INR 271 Million. Capital expenditures for the quarter were INR 2241 Million. The company continues to expand its data center and network services, emphasizing digital transformation and government policies supporting growth.
Sify Technologies Limited (NASDAQ: SIFY), a leading digital ICT solutions provider in India, will release its unaudited IFRS financial results for the first quarter ending June 30, 2022, on July 22, 2022, before the market opens. A conference call will be held at 8:30 AM ET, featuring key executives including Chairman Raju Vegesna. Investors can participate via phone or stream the event live on Sify’s investor relations website.
Cyxtera (NASDAQ: CYXT) has partnered with Sify Technologies (NASDAQ: SIFY) to enhance colocation services in India, allowing Cyxtera to tap into one of the fastest-growing global economies. The partnership enables Sify to resell Cyxtera’s solutions across North America, Europe, and Asia Pacific to over 10,000 customers. Cyxtera will now provide services in five additional Indian markets, including Mumbai and Kolkata, while Sify aims to offer proven infrastructure solutions to its clientele. This collaboration seeks to bolster both companies' growth in the competitive digital landscape.
Cyxtera (NASDAQ: CYXT) reported Q1 2022 financial results, showcasing a total revenue increase of $9.5 million (5.5% year-over-year) to $182.4 million. Recurring revenue hit $173.7 million, with core revenue rising to $165.9 million. The net loss was $40.9 million, but Transaction Adjusted EBITDA grew by $2.5 million (4.5%) to $58.6 million. The company maintains a stable average monthly core churn of 1.0% and a 70.5% occupancy rate. Cyxtera reaffirmed its 2022 guidance, projecting revenue between $730 million and $760 million, along with plans for expansion in India through a partnership with Sify Technologies.
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