Sify Technologie Stock Price, News & Analysis

Kotak Special Situations Fund (KSSF) has announced an investment of up to INR 1,000 crore (USD 135 million) in Sify Infinit Spaces Limited (SISL), a subsidiary of Sify Technologies. The investment will be made via Compulsorily Convertible Debentures, converting to equity based on SISL’s performance. Funds will support the development of new data centers across major Indian cities and meet renewable energy needs, totaling a potential investment of INR 4,000 crore (USD 530 million). Sify's management expressed confidence in India's data center sector, driven by cloud adoption and digital transformation.

Sify Technologies Limited reported revenues of INR 6986 million for Q2 FY 2021-22, marking an 18% increase year-over-year. EBITDA rose to INR 1477 million, up 24% compared to the prior year. Profit before tax was INR 461 million (11% increase), while profit after tax surged to INR 356 million, reflecting a 39% growth. CAPEX stood at INR 1497 million with a cash balance of INR 2820 million. The company is expanding its data center and network services amid a strong recovery in demand.

Sify Technologies Limited (NASDAQ: SIFY) will release its unaudited IFRS financial results for Q2 on October 29, 2021, before market opening. A conference call featuring key executives will take place at 8:30 AM ET, where stakeholders can dial in or join online. Sify Technologies is a leading ICT solutions provider in India, offering services like Data Center, Cloud, and Security across various sectors. The company's infrastructure and global partnerships enable it to cater to over 10,000 businesses, facilitating operations across 1,600 cities in India and internationally.

Sify Technologies Limited (NASDAQ: SIFY) marks the 21st anniversary of its Vashi Data Center, India's first commercial facility. Established in 2000, Sify now operates 10 data centers, with plans to expand its capacity by 200 MW over the next four years. The company emphasizes its pioneering role in the data center business in India and its capability to support digital transformation through advanced solutions. Key features include strong connectivity, high uptime, and earthquake-resistant infrastructure, catering to over 10,000 businesses nationwide.

Sify Technologies Limited (NASDAQ: SIFY) has announced a partnership with Colt Technology Services to enhance connectivity in Europe. This collaboration will facilitate the efficient migration of Oracle Cloud workloads via Colt’s high-bandwidth On-Demand services. Businesses in Europe can now benefit from Sify’s Oracle consulting experience combined with Colt’s flexible network solutions, ensuring faster, secure cloud transitions at reduced costs. The partnership positions Sify as a key player in cloud services, leveraging its extensive capabilities to meet the growing demand for managed IT solutions.

Sify reported a 23% revenue growth in Q2 2021, reaching INR 6451 Million, with an EBITDA of INR 1454 Million, a 26% increase from the previous year. Profit before tax rose by 65% to INR 440 Million, while profit after tax surged 91% to INR 329 Million. Key growth drivers include a 45% increase in revenue from Data Center services and a significant interest in digital and cloud services post-pandemic. Management highlighted the ongoing recovery and rising demand for digital transformation as critical for future growth.

Sify Technologies Limited (NASDAQ: SIFY) will report its unaudited IFRS financial results for the first quarter ending June 30, 2021, on July 30, 2021, before market opening. A conference call with key executives will take place at 8:30 AM ET, allowing investors to participate via phone or online streaming. Sify is recognized as India’s leading ICT services provider, with extensive infrastructure and cloud solutions catering to businesses of all sizes across multiple sectors in India and internationally.

Sify Technologies Limited (SIFY), based in Chennai, India, has been recognized in Gartner’s Market Guide for Public Cloud Managed and Professional Services Providers in Asia/Pacific. This acknowledgment highlights Sify's capabilities in public cloud services, essential for enterprises seeking business agility. CEO Kamal Nath emphasized the importance of this recognition in a region with varying IT maturity levels. The company aims to enhance its cloud transformation offerings by investing in automation and AI/ML technologies, further solidifying its position in the rapidly evolving digital landscape.