Announces financials with revenue of INR 15035 million for FY 2015-16 with growth across sectors like data centers, cloud services, technology and network integration
Sify Technologies has declared its consolidated results for the fiscal year 2015-16 under the International Financial Reporting Standards (IFRS). According to the results, revenue for the year ended March 31, 2016 was INR 15035 million which is an increase of approximately 17% over last year. Revenue for the quarter was INR 4036 million, an increase of 12% over the same quarter last year. EBITDA for the year was INR 2449 million, an increase of 22% over last year whereas Net Profit for the year was INR 436 million, an increase of 16% over last year. CAPEX during the year was INR 1781 million. Cash balance at the end of the year was INR 1736 million.
Sector wise, Sify’s telecom operations saw a 15% increase over last year for data centers and 21% for voice business. Data Center services grew by 20%. Cloud services have seen an increase of 45% over previous year. The technology integration business grew by 14% whereas the network integration business grew by 23% with projects from government, PSUs and the BFSI customers, the release said.
Raju Vegesna, Chairman of Sify, said, “This is our 3rd straight year of profitability with strong revenue growth, since we announced our plan to become an ICT Services provider. I continue to be encouraged by our clients’ acceptance of Sify as a strategic partner in their transformational projects. We are proud to play a role as co-authors of our clients’ success stories, while also helping to change the country’s ICT landscape. This year, Sify also took its first steps toward a larger ambition of going global; not just on signing up international clients, but also building a pool of highly skilled workforce with the launch of our Global Innovation and Development Centre at Hyderabad. We believe that our complete ICT eco-system and this on-demand workforce will be an undeniable advantage for our customers in the long run.”
Kamal Nath, Sify CEO, added, “ FY15-16 was our 3rd year of Sify 3.0 journey and I am happy to share that our positioning as an ICT Solutions and Services player have led to consistent growth in revenue, order book and profitability . Our Infrastructure as well as Services business has contributed to the growth of each other. A significant number of our clients have endorsed us for our Data Centre Transformation and Network Transformation offering while choosing us as their Integrated ICT partner. The quantitative and qualitative performance coupled with healthy mix of Run rate, Annuity and large deals have strengthened our base for a sustained growth in FY 16-17 and beyond.”
According to M P Vijay Kumar, CFO at Sify, “The discipline exhibited over successive quarters on cost control has helped to supplement the good progress on the revenue front. Our asset utilization has also improved with increased demand for our solutions, both on the Data Center and Network side. Our Capex investments remain cautious and in sync with the market movements. The Board has recommended a dividend of 10%. Cash balance at the end of the year was INR 1736 million.”
