Sify Technologies records Q4 net profit of Rs 38 million

Integrated ICT solutions and services provider Sify Technologies has reported Rs 38 million as profit for the January-March 2024 quarter, the company said on Tuesday.

The city-based company had registered a profit of Rs 34 million during the corresponding quarter of last year. For the year ending March 31, 2024, the profit fell to Rs 49 million from Rs 674 million a year ago.

Total revenue during the quarter under review grew to Rs 9,637 million from Rs 8,861 million in the same period last year. For the year ending March 31, 2024, total revenues grew to Rs 35,634 million, as against Rs 33,404 million in the previous financial year.

"Our robust infrastructure investments and comprehensive services portfolio are structured to precisely address customer objectives. Concurrently, we maintain proactive engagement with clients, identifying their distinct requirements and customising our offerings to align with their evolving needs," company CEO Kamal Nath said in a statement today.

"As enterprises advance their digital transformation and digitization goals, they are strategically realigning their digital architecture across applications, hybrid cloud, network, security, and edge (computing) environments," he said.

As of March 2024, Sify provides services through 1,033 fiber nodes across the country. The company has made investments of USD 7.22 million in start-ups in Silicon Valley as part of its corporate venture capital initiatives.

"Our three businesses (Data Centre Services, Digital services, and network services) have unlocked tailored growth avenues, attracted targetted investments, and fostered valuable partnerships.

Our investment philosophy encompasses expanding Data Centre presence to new locations for sustained growth, increasing capacity at existing facilities to meet immediate demand," Sify Technologies Group Chief Financial Officer M P Vijay Kumar said.

"We are prioritising the expansion of our workforce, equipping them with essential skills, tools, and processes to drive innovation and efficiency," Kumar added.