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 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.
Sify Technologies Limited (NASDAQ: SIFY) has announced a partnership with Colt Technology Services to enhance connectivity in Europe. This collaboration will facilitate the efficient migration of Oracle Cloud workloads via Colt’s high-bandwidth On-Demand services. Businesses in Europe can now benefit from Sify’s Oracle consulting experience combined with Colt’s flexible network solutions, ensuring faster, secure cloud transitions at reduced costs. The partnership positions Sify as a key player in cloud services, leveraging its extensive capabilities to meet the growing demand for managed IT solutions.
Sify reported a 23% revenue growth in Q2 2021, reaching INR 6451 Million, with an EBITDA of INR 1454 Million, a 26% increase from the previous year. Profit before tax rose by 65% to INR 440 Million, while profit after tax surged 91% to INR 329 Million. Key growth drivers include a 45% increase in revenue from Data Center services and a significant interest in digital and cloud services post-pandemic. Management highlighted the ongoing recovery and rising demand for digital transformation as critical for future growth.
Sify Technologies Limited (NASDAQ: SIFY) will report its unaudited IFRS financial results for the first quarter ending June 30, 2021, on July 30, 2021, before market opening. A conference call with key executives will take place at 8:30 AM ET, allowing investors to participate via phone or online streaming. Sify is recognized as India’s leading ICT services provider, with extensive infrastructure and cloud solutions catering to businesses of all sizes across multiple sectors in India and internationally.
Sify Technologies Limited (SIFY), based in Chennai, India, has been recognized in Gartner’s Market Guide for Public Cloud Managed and Professional Services Providers in Asia/Pacific. This acknowledgment highlights Sify's capabilities in public cloud services, essential for enterprises seeking business agility. CEO Kamal Nath emphasized the importance of this recognition in a region with varying IT maturity levels. The company aims to enhance its cloud transformation offerings by investing in automation and AI/ML technologies, further solidifying its position in the rapidly evolving digital landscape.
Sify reported a revenue increase of 6% for the year, totaling INR 24,320 Million, with EBITDA rising 25% to INR 5085 Million. Net Profit reached INR 1585 Million, marking a 125% rise in Profit Before Tax, which was INR 1599 Million. The company recognized a Deferred Tax Asset of INR 600 Million. Despite the pandemic, segments like Data Center Services and Cloud Management saw significant growth, while Network Services revenues fell 7%. The Board opted not to declare dividends to conserve capital amid ongoing pandemic uncertainties.
Sify Technologies Limited (NASDAQ: SIFY) will release its unaudited IFRS financial results for the fiscal year ending March 31, 2021, on May 7, 2021, before the market opens. A conference call featuring Chairman Raju Vegesna, CEO Kamal Nath, and CFO M P Vijay Kumar will be held at 8:30 AM ET. Interested parties can participate via phone or stream the call online. Sify provides comprehensive ICT solutions, supported by a robust infrastructure and a significant presence in over 1600 cities in India and internationally.
AMS-IX and Sify Technologies Limited (SIFY) announced an expansion of internet exchange hubs in India, establishing new interconnection sites in Kolkata, Noida, Hyderabad, and Chennai. This initiative aims to enhance internet connectivity and improve user experience across these regions. With India's internet traffic nearly doubling in recent years, the partnership focuses on delivering high-quality, cost-effective connectivity. The new exchanges are set to commence operations in 2021, utilizing AMS-IX's advanced IX-as-a-service solution.
Sify Technologies Limited (NASDAQ: SIFY), based in Chennai, India, has received two prestigious awards at the Global HR Excellence Awards 2021: one for Talent Management and another for Excellence in Learning and Development. The awards recognize Sify's successes in adapting its hiring, training, and reskilling approaches during challenging times, particularly with the shift towards remote work. Chairman Raju Vegesna expressed pride in the team's ability to embrace change and enhance skills for future opportunities.
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