Sify Technologies has announced its consolidated results under International Financial Reporting Standards (IFRS) for the second quarter of fiscal year 2013-14.
The financial results include a 22-per cent increase over same quarter last year in revenues for the quarter ending September 30, 2013 at INR2,505 million. EBITDA for the quarter was INR424 million, an increase of 180 per cent over the same quarter last year.
Net Profit for the quarter was INR111 million as against a net loss of INR57 million for the same quarter previous year, excluding a one-time gain of INR658 million from the sale of associate, as reported earlier. CAPEX during the quarter was INR700 million. Cash balance at the end of the quarter was INR1,614 million.
Raju Vegesna, Chairman & Managing Director, Sify Technologies, said, In spite of a challenging external environment across most sectors in India, we are continuing to see good traction for our solutions offerings. While these tight fiscal conditions have naturally resulted in some delays in customer decisions on major projects, we are also seeing that clients are consolidating their services with established service providers. As a well-entrenched player across the entire ICT ecosystem, we are better able to expand our share-of-wallet by leveraging our broad portfolio to provide cost-effective solutions.
He further added that the other trend which is seen in the market is that emerging enterprises are beginning to adopt IT in a large way.
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