Latest News | Sify Technologies Profit Up 12 Pc in March Quarter
Get latest articles and stories on Latest News at LatestLY. Sify Technologies on Tuesday reported a nearly 12 per cent rise in its consolidated profits to Rs 3.8 crore for the quarter ended in March 2024 compared to Rs 3.4 crore in the same period of the previous year.
New Delhi, Apr 23 (PTI) Sify Technologies on Tuesday reported a nearly 12 per cent rise in its consolidated profits to Rs 3.8 crore for the quarter ended in March 2024 compared to Rs 3.4 crore in the same period of the previous year.
Revenue rose by 8.75 per cent to Rs 963.7 crore in the quarter under review against Rs 886.1 crore in the year-ago period.
For the full 2023-24 fiscal, the NASDAQ-listed company reported a sharp 92.7 per cent slump in profit to Rs 4.9 crore against Rs 67.4 crore in the previous financial year.
Yearly revenue of the company witnessed a 6.67 per cent rise to Rs 3,563.4 crore. Data centre services accounted for 31 per cent of revenue, digital services for 28 per cent and network services for 41 per cent, according to a company statement.
"Our three businesses have unlocked tailored growth avenues, attracted targeted investments and fostered valuable partnerships," said M P Vijay Kumar, ED and Group CFO, Sify Technologies.
The company said its cash balance at the end of the year was Rs 583.5 crore.
"...We're prioritizing the expansion of our workforce, equipping them with essential skills, tools, and processes to drive innovation and efficiency," 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)