Sify Clocks 30% Revenue Growth In Q4, Sees Accelerated Growth Opportunities Ahead

Sify Technologies Limited SIFY reported fourth-quarter revenue growth of 30.2% year-on-year to INR8.86 billion.
The costs rose 40.2% Y/Y to INR5.71 billion. Profit after tax for the quarter decreased 85% Y/Y to INR34 million.
EBITDA improved 6.6% to INR1.64 billion.
The company's FY22-23 revenue grew 24% Y/Y to INR33.40 billion.
For the full year, revenue from Data Center colocation services rose 35% Y/Y, Revenue from Digital services fell by 33% Y/Y, and Revenue from Network-centric services grew by 11% Y/Y.
As of March 31, 2023, Sify provided services via 892 fiber nodes nationwide, a 9% increase over last year.
CEO Kamal Nath said, "There has never been a previous period of uniform, accelerated growth opportunities for each of our three major service lines like Data Center infrastructure, Network infrastructure and Digital services. The unique opportunity for Sify in the coming years is our ability to deliver transformational outcomes using a combination of these three services."
The company's cash balance at the end of the year was INR4.58 billion.
Vijay Kumar, ED & Group CFO, said, "Our strategy to separate the business into three units is bearing fruit, with each business focussed on its unique opportunities and attracting appropriate business investments and partnerships."
Price Action: SIFY shares traded lower by 2.85% at $1.36 on the last check Monday.

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