Sify reports Consolidated Financial Results for FY 2024-25
Sify Technologies has reported its FY 2024-25 financial results, showing revenue growth of 12% to INR 39,886 Million and EBITDA increase of 12% to INR 7,562 Million. However, the company recorded a loss after tax of INR 785 Million.
The revenue distribution across business segments was: Data Center services (38%), Digital services (21%), and Network services (41%). The company expanded its infrastructure with 1,137 fiber nodes and 1,870 SDWAN service points nationwide.
Key financial metrics include: CAPEX of INR 12,745 Million, cash balance of INR 6,836 Million, and total borrowings of INR 35,541 Million. The company faced headwinds from depreciation, interest expenses, and rising manpower costs, while maintaining focus on cost efficiency and fiscal discipline.
Sify Technologies ha comunicato i risultati finanziari per l'anno fiscale 2024-25, registrando una crescita del fatturato del 12% a 39.886 milioni di INR e un aumento dell'EBITDA del 12% a 7.562 milioni di INR. Tuttavia, l'azienda ha riportato una perdita netta dopo le imposte di 785 milioni di INR.
La distribuzione del fatturato per segmenti di business è stata: servizi Data Center (38%), servizi digitali (21%) e servizi di rete (41%). L'azienda ha ampliato la propria infrastruttura con 1.137 nodi in fibra e 1.870 punti di servizio SDWAN a livello nazionale.
I principali indicatori finanziari includono: CAPEX pari a 12.745 milioni di INR, liquidità di 6.836 milioni di INR e indebitamento totale di 35.541 milioni di INR. L'azienda ha affrontato sfide dovute a svalutazioni, oneri finanziari e costi del personale in aumento, mantenendo però l'attenzione sull'efficienza dei costi e la disciplina finanziaria.
Sify Technologies ha reportado sus resultados financieros del año fiscal 2024-25, mostrando un crecimiento de ingresos del 12% hasta 39.886 millones de INR y un aumento del EBITDA del 12% hasta 7.562 millones de INR. Sin embargo, la compañía registró una pérdida neta después de impuestos de 785 millones de INR.
La distribución de ingresos por segmentos de negocio fue: servicios de Data Center (38%), servicios digitales (21%) y servicios de red (41%). La empresa amplió su infraestructura con 1.137 nodos de fibra y 1.870 puntos de servicio SDWAN a nivel nacional.
Los principales indicadores financieros incluyen: CAPEX de 12.745 millones de INR, saldo de caja de 6.836 millones de INR y deuda total de 35.541 millones de INR. La compañía enfrentó dificultades por depreciación, gastos financieros y aumento de costos de personal, manteniendo el enfoque en la eficiencia de costos y disciplina fiscal.
Sify Technologies는 2024-25 회계연도 재무 결과를 발표하며 매출이 12% 증가한 398억 8,600만 INR, EBITDA도 12% 증가한 75억 6,200만 INR를 기록했습니다. 그러나 세후 순손실은 7억 8,500만 INR였습니다.
사업 부문별 매출 분포는 데이터 센터 서비스 38%, 디지털 서비스 21%, 네트워크 서비스 41%였습니다. 회사는 전국적으로 1,137개의 광섬유 노드와 1,870개의 SDWAN 서비스 포인트로 인프라를 확장했습니다.
주요 재무 지표로는 127억 4,500만 INR의 자본적 지출(CAPEX), 68억 3,600만 INR의 현금 잔액, 355억 4,100만 INR의 총 차입금이 포함됩니다. 감가상각, 이자 비용, 인건비 상승이라는 어려움에도 불구하고 비용 효율성과 재정 규율에 집중하고 있습니다.
Sify Technologies a publié ses résultats financiers pour l'exercice 2024-25, affichant une croissance du chiffre d'affaires de 12 % à 39 886 millions INR et une augmentation de l'EBITDA de 12 % à 7 562 millions INR. Cependant, la société a enregistré une perte nette après impôts de 785 millions INR.
La répartition du chiffre d'affaires par segments d'activité était la suivante : services de centres de données (38 %), services numériques (21 %) et services réseau (41 %). L'entreprise a étendu son infrastructure avec 1 137 nœuds en fibre optique et 1 870 points de service SDWAN à l'échelle nationale.
Les principaux indicateurs financiers comprennent : un CAPEX de 12 745 millions INR, une trésorerie de 6 836 millions INR et un endettement total de 35 541 millions INR. La société a fait face à des vents contraires dus à la dépréciation, aux charges d’intérêts et à l’augmentation des coûts de main-d’œuvre, tout en maintenant son attention sur l’efficacité des coûts et la discipline financière.
Sify Technologies hat die Finanzergebnisse für das Geschäftsjahr 2024-25 veröffentlicht und ein Umsatzwachstum von 12 % auf 39.886 Millionen INR sowie eine EBITDA-Steigerung von 12 % auf 7.562 Millionen INR erzielt. Dennoch verzeichnete das Unternehmen einen Verlust nach Steuern von 785 Millionen INR.
Die Umsatzverteilung nach Geschäftsbereichen war: Rechenzentrumsdienste (38 %), digitale Dienste (21 %) und Netzwerklösungen (41 %). Das Unternehmen hat seine Infrastruktur landesweit um 1.137 Glasfaserknoten und 1.870 SDWAN-Servicepunkte erweitert.
Wichtige Finanzkennzahlen umfassen: CAPEX von 12.745 Millionen INR, einen Kassenbestand von 6.836 Millionen INR und Gesamtverbindlichkeiten von 35.541 Millionen INR. Trotz Herausforderungen durch Abschreibungen, Zinsaufwendungen und steigende Personalkosten bleibt der Fokus auf Kosteneffizienz und finanzieller Disziplin.
- Revenue grew 12% YoY to INR 39,886 Million
- EBITDA increased 12% YoY to INR 7,562 Million
- 10% increase in fiber nodes deployment
- Secured major contracts with leading banks and financial institutions
- Cash balance improved to INR 6,836 Million from INR 5,835 Million
- Reported loss after tax of INR 785 Million compared to profit of INR 168 Million last year
- Interest expenses increased to INR 2,742 Million from INR 2,202 Million
- Digital Services segment reported loss of INR 539 Million
- Total borrowings increased to INR 35,541 Million
Insights
Sify posted 12% revenue/EBITDA growth but swung to loss amid higher depreciation and interest costs from aggressive infrastructure investments.
Sify Technologies' FY 2024-25 results present a mixed financial picture that requires careful analysis. While the company achieved 12% growth in both revenue (INR
This profit deterioration stems from three key factors: depreciation expenses increased
Segment performance shows stark contrasts. Data Center Services (38% of revenue) delivered strong results of INR
The balance sheet reveals prudent liquidity management despite increased borrowings. Total debt rose to INR
The tax structure warrants attention - the company faced a tax expense of INR
Sify's substantial infrastructure investments position it well for India's digital transformation despite short-term profitability challenges.
Sify's strategic infrastructure expansion reflects a calculated bet on India's digital acceleration. The company has expanded its fiber network by
The segment distribution reveals Sify's balanced portfolio approach across the digital value chain: Data Center services (
Customer wins across all three business units demonstrate market validation. Particularly noteworthy are the hyperscale data center contract with a major public sector lender, multiple cloud migration projects for financial institutions, and a nationwide SD-WAN implementation across 3,500 locations for a public sector insurance provider.
The company's substantial CAPEX of INR
From an infrastructure scaling perspective, the current financial picture represents a classic "J-curve" scenario, where significant upfront investments create temporary profitability dips before revenue scaling occurs. The
As India advances toward becoming the world's third-largest economy with projected
Revenues of INR 39886 Million. EBITDA of INR 7562 Million.
Loss for the Year was INR 785 Million.
CHENNAI, India, April 18, 2025 (GLOBE NEWSWIRE) --
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On the call: Mr. Raju Vegesna, Chairman of the Board and Mr. M P Vijay Kumar, Executive Director & Group CFO
Live webcast: https://www.webcaster4.com/Webcast/Page/2184/52330
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HIGHLIGHTS
- Revenue for the year was INR 39886 Million, an increase of
12% over last year. - EBITDA was INR 7562 Million, an increase of
12% over last year. - Loss before tax was INR 286 Million. Loss after tax was INR 785 Million.
- CAPEX for the year was INR 12745 Million.
MANAGEMENT COMMENTARY
Mr. Raju Vegesna, Chairman, said, “India’s emergence as a global growth hub is no longer a forecast. It is a present-day reality. India is set to become the third-largest economy by 2030-31 with projected annual growth of
This growth is underpinned by liberal economic reforms, a vibrant startup ecosystem, and a demographic dividend. With over 1.2 billion mobile phone users and the second-largest internet user base globally, India is now a important test-bed for emerging technologies such as AI, 5G, and cloud computing.
Government initiatives like ‘Digital India’ and ‘Startup India’ have further accelerated tech innovation, with India now home to over 100 unicorns. For global enterprises, the convergence of policy support, digital infrastructure, and deep talent positions India as a growth opportunity that is both immediate and immense.”
Mr. M P Vijay Kumar, ED & Group CFO, said, “We remain committed to cost efficiency and fiscal discipline, aligning our financial strategies with long-term value creation across all our businesses. While we plan essential investments for future readiness, our current results face multiple headwinds of depreciation, interest expenses, and rising manpower costs. Our approach remains to invest to build resilience, enhance operational agility, and capture emerging opportunities. The income tax expense includes tax, both current and deferred tax, of Rs.539 Million on profit of its data center subsidiary.
The cash balance at the end of the year was INR 6836 Million.”
BUSINESS HIGHLIGHTS
- The Revenue split between the businesses for the year was Data Center services
38% , Digital services21% and Network services41% . - As of March 31, 2025, Sify provides services via 1137 fiber nodes across the country, a
10% increase over last year. - As of March 31, 2025, Sify has deployed 1870 contracted SDWAN service points across the country.
CUSTOMER ENGAGEMENTS
Among the largest new contracts for the year were the following:
Data Center Services
- One of India’s earliest Security SaaS companies migrated from a competitor’ data center to Sify Data Center.
- One of the largest private banks in India nearly doubled their capacity for DR.
- One of the largest Public Sector lenders in India has signed up for significant capacity in our latest hyperscale data center campus in the west.
Digital services
- One of the largest private networks, the largest English media publishing group, an upcoming IT major and an MNC into heavy engineering signed up to migrate from their on-premise data center to multiple Cloud platforms.
- The largest housing lender, the largest NBFC, a joint venture steel making major and private capital advisor signed up for Greenfield cloud implementation.
- A subsidiary of an automobile major, a heavy engineering group, the largest MNC in India and a performance materials and specialty chemicals manufacturer signed up for services like DRaaS, PaaS and IaaS.
- The largest insurance player and the National insurance regulator signed up for Private Cloud commissioning at their data center.
- Multiple banks, a MNC in steel manufacturing, an NBFC and a retail major signed up for Managed services.
- Three of the largest banks and a paint manufacturing major were the largest signups for Security services, including building their Security Operations Center.
Network Services
- A Public Sector insurance major signed up for a full suite of Network connectivity services including SD-WAN services across 3500 locations.
- A major ITeS player signed up for security services for their entire rooster of clients.
- An upcoming regional player and a ITeS MNC signed up for Managed services for their clients in western and eastern India.
- A co-operative bank signed a multi-year deal for on-site NOC support services.
- The largest Indian clearing house for foreign currency settlement signed up for two different services in two regions.
- One of the largest vendors operating the ID authentication for India’s airport regulatory authority signed up for SD-WAN at multiple airports.
FINANCIAL HIGHLIGHTS
Unaudited Consolidated Income Statement as per IFRS (in INR Millions)
| Description | Quarter ended | Quarter ended | Year ended | Year ended | ||||
| March 2025 | March 2024 | March 2025 | March 2024 | |||||
| (restated) | (restated) | |||||||
| Revenue | 9,699 | 9,637 | 39,886 | 35,634 | ||||
| Cost of Sales | (5,869 | ) | (6,108 | ) | (24,917 | ) | (22,378 | ) |
| Gross Profit | 3,830 | 3,529 | 14,969 | 13,256 | ||||
| Other Operating Income | 76 | 183 | 363 | 378 | ||||
| Selling, General and Administrative Expenses | (1,977 | ) | (1,700 | ) | (7,442 | ) | (6,462 | ) |
| Depreciation and Amortisation expense | (1,558 | ) | (1,259 | ) | (5,633 | ) | (4,773 | ) |
| Operating Profit | 371 | 753 | 2,257 | 2,399 | ||||
| Investment Income | 76 | 25 | 188 | 156 | ||||
| Profit before financing and income taxes | 447 | 778 | 2,445 | 2,555 | ||||
| Finance income | - | - | 13 | - | ||||
| Interest expenses on borrowings and lease liabilities | (762 | ) | (590 | ) | (2,742 | ) | (2,202 | ) |
| Interest expenses on pension liabilities | - | (1 | ) | (2 | ) | (2 | ) | |
| Profit/(Loss) before income taxes | (315 | ) | 187 | (286 | ) | 351 | ||
| Income Tax Expense | (263 | ) | (98 | ) | (499 | ) | (183 | ) |
| Profit/(Loss) for the period | (578 | ) | 89 | (785 | ) | 168 | ||
| Profit attributable to: | ||||||||
| Reconciliation with Non-GAAP measure | ||||||||
| Profit/(Loss) for the period | (578 | ) | 89 | (785 | ) | 168 | ||
| Add: | ||||||||
| Depreciation and Amortisation expense | 1,558 | 1,259 | 5,633 | 4,773 | ||||
| Net Finance Expenses | 630 | 497 | 2,294 | 1,816 | ||||
| Current Tax | 189 | 158 | 699 | 515 | ||||
| Deferred Tax | 74 | - | - | - | ||||
| Less: | ||||||||
| Deferred Tax | - | (60 | ) | (200 | ) | (332 | ) | |
| Other Income (including exchange gain/loss) | 28 | (118 | ) | (79 | ) | (184 | ) | |
| EBITDA | 1,901 | 1,825 | 7,562 | 6,756 | ||||
Management-defined Performance Measures (MPMs)
Sify uses Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) as the management-defined performance measure in its public communications. This measure is not specified by IFRS Accounting Standards and therefore might not be comparable to apparently similar measures used by other entities.
Management believes adjusting operating profit for these items provides comprehensive information of the company’s operating performance.
Reconciliation with Management-defined Performance Measures:
(In INR millions)
| Description | Quarter ended | Quarter ended | Year ended | Year ended | ||||
| March 2025 | March 2024 | March 2025 | March 2024 | |||||
| (restated) | (restated) | |||||||
| Operating Profit | 371 | 753 | 2,257 | 2,399 | ||||
| Add: | ||||||||
| Depreciation and Amortisation expense | 1,558 | 1,259 | 5,633 | 4,773 | ||||
| Less: | ||||||||
| Interest expenses on pension liabilities | - | (1 | ) | (2 | ) | (2 | ) | |
| Other Income (including exchange gain/loss) | (28 | ) | (186 | ) | (326 | ) | (414 | ) |
| EBITDA | 1,901 | 1,825 | 7,562 | 6,756 | ||||
Segment Reporting:
(In INR millions)
| Particulars | 2024-25 | 2023-24 (restated) | ||||||||||||||
| Network Services (A) | Data center Services (B) | Digital Services (C) | Total (D=A+B+C) | Network Services (A) | Data center Services (B) | Digital Services (C) | Total (D=A+B+C) | |||||||||
| Revenue | ||||||||||||||||
| External customers Revenue | 15,781 | 14,196 | 9,909 | 39,886 | 14,661 | 11,054 | 9,919 | 35,634 | ||||||||
| Intersegment Revenue | - | 88 | 222 | 310 | - | 88 | 222 | 310 | ||||||||
| Operating expenses | (13,920 | ) | (7,769 | ) | (10,612 | ) | (32,301 | ) | (12,319 | ) | (6,425 | ) | (10,105 | ) | (28,849 | ) |
| Intersegment expenses | (252 | ) | - | (58 | ) | (310 | ) | (252 | ) | (58 | ) | (310 | ) | |||
| Segment Result | 1,609 | 6,515 | -539 | 7,585 | 2,090 | 4,717 | -22 | 6,785 | ||||||||
| Unallocated Expense (Support Service Unit Costs) | (58 | ) | 8 | |||||||||||||
| Depreciation & Amortisation | (5,633 | ) | (4,773 | ) | ||||||||||||
| Other income / (expense), net | 552 | 535 | ||||||||||||||
| Finance Income | 12 | - | ||||||||||||||
| Finance Expense | (2,744 | ) | (2,204 | ) | ||||||||||||
| Profit / (loss) before tax | (286 | ) | 351 | |||||||||||||
| Income taxes (expense)/ benefit | (499 | ) | (183 | ) | ||||||||||||
| Profit / (loss) for the year | (785 | ) | 168 | |||||||||||||
Equity and Debt:
(In INR millions)
| 31.03.2025 | 31.03.2024 | |
| EQUITY | 16,725 | 15,349 |
| BORROWINGS | ||
| Long term | 28,237 | 23,350 |
| Short term | 7,304 | 7,152 |
| Less: Cash Balance | 6,836 | 5,835 |
| Net Debt | 468 | 1,317 |
About Sify Technologies
A multiple times award winner of the Golden Peacock from the Institute of Directors for Corporate Governance, Sify Technologies is India’s most comprehensive ICT service & solution provider. With Cloud at the core of our solutions portfolio, Sify is focussed on the changing ICT requirements of the emerging Digital economy and the resultant demands from large, mid and small-sized businesses.
Sify’s infrastructure comprising state-of-the-art Data Centers, the largest MPLS network, partnership with global technology majors and deep expertise in business transformation solutions modelled on the cloud, make it the first choice of start-ups, SMEs and even large Enterprises on the verge of a revamp.
More than 10000 businesses across multiple verticals have taken advantage of our unassailable trinity of Data Centers, Networks and Digital services and conduct their business seamlessly from more than 1700 cities in India. Internationally, Sify has presence across North America, the United Kingdom and Singapore. Sify, www.sify.com, Sify Technologies and www.sifytechnologies.com are registered trademarks of Sify Technologies Limited.
Non-IFRS Measures
This press release contains a financial measure not prepared in accordance with IFRS. In particular, EBITDA is referred to as “non-IFRS” measure. The non-IFRS financial measure we use may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies - refer to the reconciliation provided in the table labelled Financial Highlights for more information. In addition, these non-IFRS measures should not be considered in isolation as a substitute for, or as superior to, financial measures calculated in accordance with IFRS, and our financial results calculated in accordance with IFRS and reconciliation to those financial statements should be carefully evaluated.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Sify undertakes no duty to update any forward-looking statements.
For a discussion of the risks associated with Sify’s business, please see the discussion under the caption “Risk Factors” in the company’s Annual Report on Form 20-F/A for the year ended March 31, 2024, which has been filed with the United States Securities and Exchange Commission and is available by accessing the database maintained by the SEC at www.sec.gov, and Sify’s other reports filed with the SEC.
For further information, please contact:
| Sify Technologies Limited Mr. Praveen Krishna Investor Relations & Public Relations +91 9840926523 praveen.krishna@sifycorp.com | 20:20 Media Nikhila Kesavan +91 9840124036 nikhila.kesavan@2020msl.com | Weber Shandwick Lucia Domville +1-212 546-8260 LDomville@webershandwick.com |
FAQ
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