Sify reports revenues of Rs 15035 mn for FY 2015-16, grows 17%

Sify Technologies, a company of Managed Enterprise, Network, IT and Software services in India with global delivery capabilities, announced its consolidated results under International Financial Reporting Standards (IFRS) for the fiscal year 2015-16.

Mr. Raju Vegesna, Chairman, said, “This is our 3rd straight year of profitability with strong revenue growth, since we announced our plan to become an ICT Services provider. I continue to be encouraged by our clients’ acceptance of Sify as a strategic partner in their transformational projects. We are proud to play a role as co-authors of our clients’ success stories, while also helping to change the country’s ICT landscape. This year, Sify also took its first steps toward a larger ambition of going global; not just on signing up international clients, but also building a pool of highly skilled workforce with the launch of our Global Innovation and Development Centre at Hyderabad. We believe that our complete ICT eco-system and this on-demand workforce will be an undeniable advantage for our customers in the long run.”

Mr. Kamal Nath, CEO, said, “ FY15-16 was our 3rd year of Sify 3.0 journey and I am happy to share that our positioning as an ICT Solutions and Services player have led to consistent growth in revenue, order book and profitability . Our Infrastructure as well as Services business have contributed to the growth of each other. A significant number of our clients have endorsed us for our Data Centre Transformation and Network Transformation offering while choosing us as their Integrated ICT partner. The quantitative and qualitative performance coupled with healthy mix of Run rate, Annuity and Large deals have strengthened our base for a sustained growth in FY 16-17 and beyond.”

Mr. M P Vijay Kumar, CFO, said, “The discipline exhibited over successive quarters on cost control has helped to supplement the good progress on the revenue front. Our asset utilization has also improved with increased demand for our solutions, both on the Data Center and Network side. Our Capex investments remain cautious and in sync with the market movements. The Board has recommended a dividend of 10%. Cash balance at the end of the year was INR 1736 million."

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