Sify Technologies has announced its consolidated results under International Financial Reporting Standards (IFRS) for the first quarter of fiscal year 2013-14. The company has achieved revenue of INR 2,628 million showing an increase of 13% versus the previous quarter and an increase of 33% over the same period last year.
Raju Vegesna, Chairman and Managing Director, Sify said, "This quarter has been our strongest quarter to date since we embarked on the new strategic direction we have set for ourselves. On the infrastructure front, we have consistently built capacity ahead of customer demand. Our investments in Network and Data Centers, is gaining increasing interest and improved utilization. We are seeing traction around our Cloud business and our investments in submarine cables have enabled Sify to compete for new business opportunities. With the market in consolidation mode, we are also reaping the benefits of clients choosing Sify for our consistent and predictable performance."
EBITDA margin for the quarter was INR 465 million with an increase of 104% versus the previous quarter. Net Profit for the quarter was INR 163 million as against a net loss of INR 16 million for the previous quarter. Cash balance received at the end of the quarter was INR 1,085 million.
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