Sify net loss at Rs 5.6 cr, revenues rise 23%

Written by fe Bureau | Chennai | Updated: Jan 30 2013, 09:23am hrs
Sify Technologies has posted a net loss of R5.6 crore the third quarter against a net loss of Rs 7.4 crore in the corresponding quarter previous year. It reported revenues of R222 crore for the quarter against revenues of R180 crore in the same period last year, logging a growth of 23%. Ebitda increased to R20.6 crore from R13.5 crore.

Raju Vegesna, chairman, Sify, said, In my discussions with business leaders across the globe, I am seeing a common factor emerging. The IT and telecom industry is moving towards consolidation and with it, an increasing focus on applications and IT solutions that span the networking and IT services portfolios. Clients are asking for cost-effective solutions that leverage our existing portfolio and are tailored to their needs. In doing so, we are drawing largely on the accumulated skill sets and knowledge base built over the years. This is also increasing the absolute demand for data storage and transfer, the biggest beneficiaries being our network and hosting business.

Kamal Nath, CEO, said, We are also benefiting from the network consolidation trend, as Large Enterprises reduce the number of Network Service Providers. The coming quarter focus will predominantly be driven by these two trends, as we had identified these early and are well engaged with our clients.

Our Sify 3.0 go-to-market strategy and offerings are being well-accepted by both our large existing customer base and new clients as well. We are seeing a significant shift from the purchase of IT infrastructure model to the subscription model, Nath said.