Sify Technologies Limited announced its consolidated results under International Financial Reporting Standards (IFRS) for the fiscal year 2013-14. Revenue for the year ended March 31, 2014 was INR 10463 million, an increase of 22% over previous year. EBITDA for the year was INR 1620 million, as against INR 779 million over last year. Net Profit for the year was INR 373 million as against a net profit of INR 452 million for the previous year; the net profit for the previous year included a one-time gain of INR 658 million from sale of stake in associate company. CAPEX during the year was INR 1051 million. Cash balance at the end of the year was INR 1328 million, excluding undrawn lines of credit.
Mr. Raju Vegesna, Chairman and Managing Director, said, “This has been another year of steady progress toward our goals of higher-level engagement with our customers and improved financial performance. We have now come of age as an Enterprise service provider of repute. We are pleased that we have been able to attract both new customers and increase the breadth of services with existing customers. It is gratifying to see new clients involving us in the planning stage of their technology refresh cycles; this clearly points to the strengths of our skillsets and the value clients see in our offerings.
We have continued to invest selectively and strategically, both in hard assets and in the next-generation skills required to support our customers with their Cloud Transformation plans. Our state-of-the-art Data Center in Mumbai, which is opening this quarter, reinforces our confidence in the opportunities in this sector.”
Mr. Kamal Nath, CEO, said, “In FY 13-14, we had an all-round growth on revenue, fresh order bookings and profitability in an otherwise challenging business environment. Our engagement flavor with both existing and new clients has undergone significant changes over the previous years in terms of increased percentage of services mix, average deal size and confirmed multi-year services contracts. Productivity per sales headcount has also seen significant improvement, which has laid the foundation for further improvement in the coming years.
Last year, we launched a host of Infrastructure and Application services to be delivered from our existing and new Data Centers, which would lead our Sify 3.0 services led growth in FY 14-15.”
