Sify Technologie Stock Price, News & Analysis

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.

Sify reported a revenue increase of 6% for the year, totaling INR 24,320 Million, with EBITDA rising 25% to INR 5085 Million. Net Profit reached INR 1585 Million, marking a 125% rise in Profit Before Tax, which was INR 1599 Million. The company recognized a Deferred Tax Asset of INR 600 Million. Despite the pandemic, segments like Data Center Services and Cloud Management saw significant growth, while Network Services revenues fell 7%. The Board opted not to declare dividends to conserve capital amid ongoing pandemic uncertainties.

Sify Technologies Limited (NASDAQ: SIFY) will release its unaudited IFRS financial results for the fiscal year ending March 31, 2021, on May 7, 2021, before the market opens. A conference call featuring Chairman Raju Vegesna, CEO Kamal Nath, and CFO M P Vijay Kumar will be held at 8:30 AM ET. Interested parties can participate via phone or stream the call online. Sify provides comprehensive ICT solutions, supported by a robust infrastructure and a significant presence in over 1600 cities in India and internationally.

AMS-IX and Sify Technologies Limited (SIFY) announced an expansion of internet exchange hubs in India, establishing new interconnection sites in Kolkata, Noida, Hyderabad, and Chennai. This initiative aims to enhance internet connectivity and improve user experience across these regions. With India's internet traffic nearly doubling in recent years, the partnership focuses on delivering high-quality, cost-effective connectivity. The new exchanges are set to commence operations in 2021, utilizing AMS-IX's advanced IX-as-a-service solution.

Sify Technologies Limited (NASDAQ: SIFY), based in Chennai, India, has received two prestigious awards at the Global HR Excellence Awards 2021: one for Talent Management and another for Excellence in Learning and Development. The awards recognize Sify's successes in adapting its hiring, training, and reskilling approaches during challenging times, particularly with the shift towards remote work. Chairman Raju Vegesna expressed pride in the team's ability to embrace change and enhance skills for future opportunities.

Sify Technologies Limited (NASDAQ: SIFY) announced that CEO Kamal Nath was awarded 'CEO of the Year' by The World Leadership Congress, recognizing his leadership during challenging times. This award highlights Nath's role in transforming Sify into a leading ICT solutions provider in India. Since joining in 2012, he has driven consistent revenue growth and established Sify as a preferred partner for enterprises and government sectors. The company continues to adapt to the evolving digital economy, leveraging its robust infrastructure and cloud capabilities.