Sify Q3 revenues up 21% to Rs 269.8Cr, EBITDA slips sequentially
NASDAQ-listed Sify Technologies Ltd, which provides managed enterprise, network, IT and software services, reported a 21 per cent rise in revenue which rose to Rs 269.8 crore for the three months ended December 31, 2013, over the year-ago period. The net profit for the quarter was Rs 6.3 crore against a net loss of Rs 5.6 crore in the same quarter the previous ear.
The company's EBITDA doubled to Rs 41.3 crore in the same period. Sequentially revenues increased 7.7 per cent while EBITDA slipped marginally by 2.6 per cent compared with the quarter ended September 30, 2013.
The technology integration business grew 13 per cent while its telecom services business almost doubled during the quarter. Within telecom services unit, international voice services showed marginal growth in the face of falling industry margins, the company said.
Sify Technologies' CEO Kamal Nath, said, "We are increasingly engaging ourselves with clients around their infrastructure transformation projects aimed towards attaining agility, convergence and cost benefit. This is resulting in an increasing number of multi-services and multi-year contracts for us."
(Edited by Joby Puthuparampil Johnson)