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 reported revenues of INR 27,026 Million, marking an 11% increase year-over-year. EBITDA rose 19% to INR 6,034 Million, while profit before tax increased by 15% to INR 1,846 Million. However, profit after tax fell 12% to INR 1,353 Million, largely due to a previous year's deferred tax asset recognition of INR 600 Million. The company made significant CAPEX investments totaling INR 7,144 Million and emphasized growth in Data Center and Network services, with a 35% growth in colocation services.
Sify Technologies Limited (NASDAQ: SIFY) will announce its unaudited IFRS financial results for the fiscal year ending March 31, 2022, on April 18, 2022, before market open. A conference call will follow at 8:30 AM ET, featuring key executives including Chairman Mr. Raju Vegesna and CEO Mr. Kamal Nath. Interested participants can dial in or listen via a live webcast. Sify serves over 10,000 businesses across diverse sectors from locations in India and internationally, focusing on cloud-based solutions to meet the evolving needs of the digital economy.
Sify Technologies Limited (NASDAQ: SIFY) has announced a significant partnership with Vibrant Energy, a subsidiary of Macquarie’s Green Investment Group, to enhance its renewable energy capacity. The partnership involves power purchase agreements (PPAs) for 231MW of solar and wind energy, aiming to minimize reliance on fossil fuels and reduce carbon emissions in Sify's data centers. This initiative will enable Sify to power its flagship centers in Mumbai predominantly with renewable energy. The company's leadership emphasized the importance of transitioning to green energy in supporting India's decarbonization efforts.
Sify Technologies reported Q3 FY 2021-22 revenues of INR 6783 million, up 8% year-over-year. EBITDA rose 22% to INR 1574 million. Profit before tax reached INR 477 million, a 19% increase, while profit after tax soared 36% to INR 344 million. The company is expanding its data center capacity with a committed capital of INR 9900 million. Despite strong growth in data center colocation services (+44%), digital services revenue fell by 18%. Cash balance at the end of the quarter was INR 2381 million.
Sify Technologies Limited (NASDAQ: SIFY), a leading digital ICT solutions provider in India, will announce its Q3 2021 financial results on January 24, 2022, before market opening. The announcement will be followed by a conference call at 8:30 AM ET, featuring key executives including CEO Kamal Nath. Interested participants can join via phone or through a live broadcast on the company’s investor website. This event marks a significant opportunity for stakeholders to gauge Sify's performance amidst the evolving digital economy.
Kotak Special Situations Fund (KSSF) has announced an investment of up to INR 1,000 crore (USD 135 million) in Sify Infinit Spaces Limited (SISL), a subsidiary of Sify Technologies. The investment will be made via Compulsorily Convertible Debentures, converting to equity based on SISL’s performance. Funds will support the development of new data centers across major Indian cities and meet renewable energy needs, totaling a potential investment of INR 4,000 crore (USD 530 million). Sify's management expressed confidence in India's data center sector, driven by cloud adoption and digital transformation.
Sify Technologies Limited reported revenues of INR 6986 million for Q2 FY 2021-22, marking an 18% increase year-over-year. EBITDA rose to INR 1477 million, up 24% compared to the prior year. Profit before tax was INR 461 million (11% increase), while profit after tax surged to INR 356 million, reflecting a 39% growth. CAPEX stood at INR 1497 million with a cash balance of INR 2820 million. The company is expanding its data center and network services amid a strong recovery in demand.
Sify Technologies Limited (NASDAQ: SIFY) will release its unaudited IFRS financial results for Q2 on October 29, 2021, before market opening. A conference call featuring key executives will take place at 8:30 AM ET, where stakeholders can dial in or join online. Sify Technologies is a leading ICT solutions provider in India, offering services like Data Center, Cloud, and Security across various sectors. The company's infrastructure and global partnerships enable it to cater to over 10,000 businesses, facilitating operations across 1,600 cities in India and internationally.
Sify Technologies Limited (NASDAQ: SIFY) marks the 21st anniversary of its Vashi Data Center, India's first commercial facility. Established in 2000, Sify now operates 10 data centers, with plans to expand its capacity by 200 MW over the next four years. The company emphasizes its pioneering role in the data center business in India and its capability to support digital transformation through advanced solutions. Key features include strong connectivity, high uptime, and earthquake-resistant infrastructure, catering to over 10,000 businesses nationwide.
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