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Sify Technologies Q2 profit rises 25% to Rs 25 cr
TT Correspondent |  |  23 Oct 2018

IT and telecom services provider Sify Technologies said Monday its net profit increased by 25 per cent to Rs 25.3 crore in July-September 2018 compared to Rs 20.3 crore in the same quarter a year ago. Its revenue increased by around 14 per cent to Rs 551 crore during the reported quarter from Rs 484 crore it posted in corresponding period of 2017-18.

"We continue to see more global and domestic enterprises contracting us for their pan-India implementation. The government's aggressiveness on digitization is also continuing to open up opportunities for our broader set of services," Sify Technologies Chairman Raju Vegesna said in a statement.

"Our recent wins are an endorsement of our vertical go-to-market strategy that was introduced a year earlier. This is reflecting positively on our revenue mix, profitability and new order book," Sify Technologies CEO Kamal Nath said.

He said recent public policy changes regarding proposed data protection regulations in India and the central bank's directive on domiciling data in the country of origin is driving demand as more global players look at hosting their applications within India.

Revenue of the company from data centre centric IT services grew by 25 per cent over same quarter last year.

"Segment wise, revenue from data centre services, cloud and managed services and technology integration services grew by 36 per cent, 76 per cent and 52 per cent respectively," the statement said.

The company said that its revenue from telecom centric services grew by 4 per cent over the same quarter last year.

"Sify also augmented its wireless network across India, with 200 new base stations commissioned," the statement said.

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23 Oct 2018(IST)  
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