Latest News | Sify Q2 Net Profit Up 35 Pc to Rs 26 Crore

New Delhi, Oct 23 (PTI) IT company Sify on Friday posted a 35 per cent increase in net profit at Rs 25.7 crore in the second quarter ended September 30, 2020.

The company, in a statement, said it had posted a net profit of Rs 19.1 crore in the same period a year ago.

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"During the quarter, we have witnessed the urgency among clients to adopt IT infrastructure models which would provide them the agility and flexibility to run their businesses remotely during the crisis," Sify CEO Kamal Nath said in the statement.

"Hybrid IT models built on hybrid cloud infrastructure are evolving as the way to go," he added.

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The company's revenue increased 1.5 per cent to Rs 589.9 crore during the quarter under review from Rs 580.7 crore in the corresponding quarter of 2019-20.

Sify CFO MP Vijay Kumar said, "Our people commitment and business continuity processes have ensured that operating performance continued to remain steady throughout this period of caution.

"We will be conservative in our operating spends, while we increase our capex to support the anticipated demand for our data centre and network infrastructure," Kumar added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)