Sify Q2 Profit Down, But Revenue Rises - Quick Facts

(RTTNews) - Sify Technologies Limited (SIFY), an Indian company dealing in Managed Enterprises, IT and software services Wednesday reported that its second-quarter profit declined to 111 million rupees from the previous year's 601 million rupees.

Net loss for the prior year quarter was 57 million rupees, excluding a one-time gain of 658 million rupees from sale of associate as reported earlier.

Telecom services grew by 35% over same quarter last year. Cloud and Managed Services grew by 46% over same quarter last year. Talent Management Solutions registered an increase of 192% over same quarter last year. Technology Integration Business grew by 69% over previous quarter.

Revenue for the quarter was 2.505 billion rupees, an increase of 22% over same quarter last year's 2.059 billion rupees.

CAPEX during the quarter was 700 million rupees. Cash balance at the end of the quarter was 1.614 billion rupees.

Kamal Nath, CEO,said, "Our investment in building new DC capacity at both Noida and Mumbai is attracting strong interest from major customers seeking consolidation of services. The services business is beginning to see growth, in particular the Cloud and Managed services."