Sify Reports 11% Revenue Growth in FY21-22
Chennai: Information and communications technology (ICT) solutions provider Sify Technologies reported a marginal decline in quarterly revenue during the period January-March 2022 to Rs 681 crore from Rs 686 crore in the same period Last year. Net profit fell by over 60% from Rs 90 crore in the March 2021 quarter to Rs 32 crore.
The company allocated the difference in profitability to the deferred tax asset of Rs 60 crore which it had recognized in the quarter from January to March 2021, based on an assessment of the reasonable certainty of future taxable income. in the individual entities of the group.
For the full fiscal year ending March 2022, Sify’s revenue was Rs 2,702 crore, an increase of 11% from last year. Net profit at Rs 135 crore, fell 12% from last year. Capex during the year was Rs 714 crore.
FY2021-22 data center colocation services revenue increased 35% year-over-year, and FY2021-22 network-centric services revenue increased 7 % compared to last year. Revenue from digital services for fiscal year 2021-22 decreased by 1% compared to last year.
During the year, Sify invested a total of $3,50,000 in startups in the Silicon Valley region as part of its Corporate Venture Capital initiative. As of March 31, 2022, Sify provides services through 816 fiber nodes and 1,913 wireless base stations across the country, an increase of 12% and 6% respectively compared to last year.