Sify reports 27% growth in revenues in Q4, internet business up 50% in FY13
NASDAQ-listed Indian internet and IT firm Sify Technologies Ltd has reported Rs 231.4 crore in revenues for the fourth quarter ended March 31, 2013, up 27.1 per cent over the year ago period.
The growth in topline was led by its key enterprise business which grew 28.2 per cent to Rs 214.2 crore during the period. Software unit clocked 15.4 per cent growth to generate revenues of Rs 17.2 crore.
The firm also saw marked improvement in profitability with EBITDA (earnings before interest, tax, depreciation and amortisation) more than doubling to Rs 25.8 crore with net profit of Rs 70 lakh as against net loss of Rs 11.1 crore in Q4 of FY12.
For the full year ended March, Sify registered net profit of Rs 47.7 crore as against a net loss of Rs 38.5 crore in FY12, primarily due to a one-time gain of Rs 65.8 crore from stake sale of its subsidiary MF Global Sify Securities.
Total revenues for FY13 increased 11.3 per cent to Rs 857 crore led by the enterprise business which grew to Rs 787.1 crore while the software unit saw income shrinking from Rs 75 crore to Rs 69.9 crore for the year.
EBITDA for FY13 stood at Rs 80.2 crore compared to Rs 49 crore in the previous year.
"Over the past year, we have begun packaging many of our solutions and services into flexible and scalable modules. We are now able to implement projects quickly, scale them efficiently and cross-pollinate them with solutions from other service providers," said Raghu Vegesna, chairman, Sify.
Kamal Nath, CEO of Sify said: "Having established a strong brand name in the network services space, we are aggressively focusing on data center & disaster recovery solutions both on a public & private cloud model."
BUSINESS HIGHLIGHTS FOR FY13:
-- Revenue from data services up 21 per cent over FY12; in Q4 growth was 25 per cent over the year ago period
-- Revenue from voice business grew 27 per cent over FY12; Sify is now carrying more than 3.6 billion minutes annually
-- Wireless access links have increased by 40 per cent in FY13
-- Overall internet business grew 50 per cent over FY12
-- The carrier business registered a growth of 22 per cent in revenues over FY12
-- The business has enrolled 1200 new customers during the year
-- Cloud business revenue grew over 50 per cent in FY13
-- The business added 26 large enterprise customers and more than 60 SME projects
-- The Sify.com portal grew annually around 55 per cent, in terms of unique visitors
-- Sify Finance grew 113 per cent